Zacks Research Upgrades Grid Dynamics (NASDAQ:GDYN) to “Strong-Buy”

Grid Dynamics (NASDAQ:GDYN) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on GDYN. TD Cowen boosted their target price on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Jefferies Financial Group cut Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 target price on the stock. in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

Grid Dynamics Stock Up 2.6%

Shares of GDYN stock opened at $7.58 on Wednesday. The company has a 50 day moving average price of $6.21 and a 200-day moving average price of $6.47. Grid Dynamics has a 52 week low of $5.11 and a 52 week high of $10.21. The firm has a market capitalization of $633.92 million, a PE ratio of 379.19 and a beta of 0.92.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. The company had revenue of $108.16 million for the quarter, compared to the consensus estimate of $106.55 million. Analysts anticipate that Grid Dynamics will post 0.12 earnings per share for the current year.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 4,435 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.00, for a total value of $35,480.00. Following the completion of the sale, the chief operating officer directly owned 514,948 shares in the company, valued at $4,119,584. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,147 shares of company stock valued at $46,323. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Grid Dynamics

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in shares of Grid Dynamics by 50.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock valued at $47,000 after buying an additional 1,742 shares during the last quarter. Quarry LP raised its holdings in shares of Grid Dynamics by 57.1% in the third quarter. Quarry LP now owns 4,835 shares of the company’s stock worth $37,000 after buying an additional 1,757 shares during the period. Hantz Financial Services Inc. lifted its stake in shares of Grid Dynamics by 175.5% during 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 during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Grid Dynamics by 10.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 34,472 shares of the company’s stock worth $196,000 after acquiring an additional 3,143 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Grid Dynamics by 10.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,513 shares of the company’s stock valued at $399,000 after acquiring an additional 3,406 shares during the period. Institutional investors own 71.18% of the company’s stock.

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.