Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Target Price at $11.33

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $11.3333.

A number of equities analysts have recently weighed in on the company. Zacks Research raised Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. decreased their price target on shares of Grid Dynamics from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Needham & Company LLC lowered their price objective on shares of Grid Dynamics from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Jefferies Financial Group assumed coverage on shares of Grid Dynamics in a report on Monday, September 22nd. They set a “buy” rating and a $11.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th.

Grid Dynamics Trading Down 2.2%

Shares of NASDAQ GDYN opened at $8.83 on Wednesday. The firm has a market capitalization of $748.52 million, a P/E ratio of 58.87 and a beta of 0.82. The firm’s 50-day moving average price is $8.94 and its 200-day moving average price is $8.98. Grid Dynamics has a 1-year low of $7.37 and a 1-year high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, October 30th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Grid Dynamics had a return on equity of 1.74% and a net margin of 3.42%.The company had revenue of $104.16 million during the quarter, compared to the consensus estimate of $103.64 million. During the same period last year, the business posted $0.14 EPS. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. Equities research analysts forecast that Grid Dynamics will post 0.18 EPS for the current year.

Insider Buying and Selling

In other news, CFO Anil Doradla sold 4,368 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $10.00, for a total value of $43,680.00. Following the completion of the sale, the chief financial officer directly owned 344,852 shares of the company’s stock, valued at $3,448,520. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp lifted its stake in Grid Dynamics by 3.7% during the 1st quarter. Northern Trust Corp now owns 882,826 shares of the company’s stock valued at $13,816,000 after acquiring an additional 31,099 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Grid Dynamics by 71.0% during the first quarter. Hsbc Holdings PLC now owns 30,018 shares of the company’s stock valued at $464,000 after purchasing an additional 12,459 shares in the last quarter. Corebridge Financial Inc. lifted its position in shares of Grid Dynamics by 5.2% during the first quarter. Corebridge Financial Inc. now owns 32,159 shares of the company’s stock valued at $503,000 after purchasing an additional 1,583 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Grid Dynamics during the first quarter worth about $1,472,000. Finally, Amundi bought a new stake in Grid Dynamics in the 1st quarter worth about $252,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Company Profile

Grid Dynamics (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.