Grid Dynamics’ (GDYN) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Grid Dynamics (NASDAQ:GDYN) in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $15.00 price target on the stock.

A number of other equities analysts have also weighed in on the company. Wall Street Zen lowered Grid Dynamics from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Jefferies Financial Group began coverage on shares of Grid Dynamics in a research note on Monday, September 22nd. They issued a “buy” rating and a $11.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Grid Dynamics from $13.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 20th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grid Dynamics currently has a consensus rating of “Buy” and an average price target of $14.80.

Grid Dynamics Trading Down 0.1%

GDYN stock opened at $7.99 on Thursday. The stock’s 50 day simple moving average is $8.32 and its 200 day simple moving average is $11.61. Grid Dynamics has a 12-month low of $7.37 and a 12-month high of $25.50. The stock has a market capitalization of $676.51 million, a PE ratio of 42.05 and a beta of 1.03.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $101.10 million during the quarter, compared to analyst estimates of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts predict that Grid Dynamics will post 0.18 earnings per share for the current year.

Institutional Trading of Grid Dynamics

Several large investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund Corp increased its holdings in Grid Dynamics by 22.3% during the second quarter. Texas Permanent School Fund Corp now owns 24,529 shares of the company’s stock valued at $283,000 after buying an additional 4,472 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Grid Dynamics in the 2nd quarter worth $2,565,000. Public Sector Pension Investment Board increased its stake in shares of Grid Dynamics by 9.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 213,265 shares of the company’s stock worth $2,463,000 after purchasing an additional 17,638 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Grid Dynamics by 208.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company’s stock worth $72,000 after purchasing an additional 4,197 shares during the period. Finally, Wasatch Advisors LP lifted its position in Grid Dynamics by 2.5% during the second quarter. Wasatch Advisors LP now owns 4,669,558 shares of the company’s stock valued at $53,933,000 after purchasing an additional 112,319 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

About Grid Dynamics

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.