JPMorgan Chase & Co. Cuts Grid Dynamics (NASDAQ:GDYN) Price Target to $11.00

Grid Dynamics (NASDAQ:GDYN) had its price objective trimmed by JPMorgan Chase & Co. from $13.00 to $11.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on GDYN. Needham & Company LLC decreased their price objective on shares of Grid Dynamics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Wall Street Zen cut shares of Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $15.75.

Grid Dynamics Stock Down 1.9%

NASDAQ:GDYN opened at $7.70 on Wednesday. Grid Dynamics has a 12-month low of $7.52 and a 12-month high of $25.50. The firm has a market capitalization of $651.96 million, a PE ratio of 40.53 and a beta of 1.06. The firm has a 50-day moving average price of $10.29 and a 200 day moving average price of $14.07.

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

Hedge Funds Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Teachers Retirement System boosted its stake in Grid Dynamics by 35.1% in the first quarter. New York State Teachers Retirement System now owns 17,903 shares of the company’s stock valued at $280,000 after acquiring an additional 4,656 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Grid Dynamics in the first quarter valued at approximately $546,000. SG Americas Securities LLC boosted its stake in Grid Dynamics by 426.8% in the first quarter. SG Americas Securities LLC now owns 57,363 shares of the company’s stock valued at $898,000 after acquiring an additional 46,475 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Grid Dynamics by 3.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 91,624 shares of the company’s stock valued at $1,434,000 after acquiring an additional 3,209 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Grid Dynamics by 2.4% in the first quarter. Principal Financial Group Inc. now owns 324,145 shares of the company’s stock valued at $5,073,000 after acquiring an additional 7,544 shares during the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Company Profile

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.