Grid Dynamics (NASDAQ:GDYN) Price Target Raised to $11.00

Grid Dynamics (NASDAQ:GDYN) had its target price hoisted by JPMorgan Chase & Co. from $8.00 to $11.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also weighed in on GDYN. Needham & Company LLC increased their target price on Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday. Zacks Research lowered Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday. Finally, TD Cowen boosted their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.80.

Grid Dynamics Stock Performance

GDYN stock opened at $13.36 on Friday. The company has a market capitalization of $1.08 billion, a PE ratio of 148.44 and a beta of 0.88. Grid Dynamics has a one year low of $5.11 and a one year high of $13.39. The company’s fifty day moving average price is $8.12 and its 200-day moving average price is $6.99.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. The business had revenue of $114.29 million for the quarter, compared to the consensus estimate of $112.77 million. On average, research analysts predict that Grid Dynamics will post 0.20 EPS for the current fiscal year.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 10,512 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $110,481.12. Following the transaction, the chief operating officer owned 484,778 shares in the company, valued at approximately $5,095,016.78. This represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anil Doradla sold 20,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the completion of the sale, the chief financial officer owned 374,509 shares of the company’s stock, valued at $3,936,089.59. This trade represents a 5.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 44,921 shares of company stock worth $436,306. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors have recently modified their holdings of GDYN. Bastion Asset Management Inc. bought a new position in Grid Dynamics in the first quarter valued at about $6,899,000. Squarepoint Ops LLC purchased a new position in Grid Dynamics in the second quarter valued at about $2,702,000. Summit Creek Advisors LLC bought a new position in Grid Dynamics in the 2nd quarter valued at $2,452,000. Walleye Capital LLC bought a new position in Grid Dynamics during the 1st quarter worth approximately $1,007,000. Finally, Quantinno Capital Management LP raised its holdings in Grid Dynamics by 460.4% in the first quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock worth $1,176,000 after purchasing an additional 169,477 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Key Stories Impacting Grid Dynamics

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Grid Dynamics reported adjusted earnings of $0.18 per share, above the $0.12–$0.13 consensus range and up from $0.09 a year earlier. Revenue reached $114.29 million, topping the $112.77 million estimate. Grid Dynamics Q3 earnings report
• Positive Sentiment: Record quarterly performance and constructive guidance supported the rally. Company coverage characterized the quarter as a record result, while management’s outlook for the next quarter was described as optimistic, reinforcing expectations for continued growth. Grid Dynamics record third-quarter results
• Positive Sentiment: TD Cowen raised its price target and initiated a Buy recommendation. The firm increased its target from $9 to $13, signaling improved confidence in Grid Dynamics’ earnings and growth prospects. TD Cowen analyst recommendation
• Positive Sentiment: The company launched a business process consulting practice. The new offering could broaden Grid Dynamics’ services and create additional opportunities to win enterprise transformation work. Grid Dynamics consulting practice launch
• Neutral Sentiment: Despite the Buy rating, TD Cowen’s $13 target is slightly below the stock’s current trading level, indicating that much of the near-term optimism may already be reflected in the shares.
• Negative Sentiment: Grid Dynamics remains richly valued relative to reported profitability, with a very high price-to-earnings ratio and a net margin below 1%, leaving the stock sensitive to any slowdown in growth or weaker future guidance.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.