Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.00.

GDYN has been the subject of several research reports. Needham & Company LLC reduced their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Zacks Research raised shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. TD Cowen reduced their price target on shares of Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings lowered shares of Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th.

Grid Dynamics Stock Performance

GDYN opened at $6.77 on Tuesday. The stock has a market capitalization of $566.18 million, a P/E ratio of 135.43 and a beta of 0.86. The company’s 50-day simple moving average is $6.06 and its two-hundred day simple moving average is $7.64. Grid Dynamics has a 52-week low of $5.13 and a 52-week high of $15.32.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter in the prior year, the business earned $0.11 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts forecast that Grid Dynamics will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its holdings in Grid Dynamics by 175.5% in the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock worth $29,000 after acquiring an additional 2,057 shares in the last quarter. GAMMA Investing LLC increased its holdings in Grid Dynamics by 273.2% in the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after acquiring an additional 2,634 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Grid Dynamics in the 2nd quarter worth approximately $43,000. SBI Securities Co. Ltd. purchased a new stake in Grid Dynamics in the 3rd quarter worth approximately $31,000. Finally, Quarry LP increased its holdings in Grid Dynamics by 57.1% in the 3rd quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after acquiring an additional 1,757 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

About Grid Dynamics

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.