Grid Dynamics’ (GDYN) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Grid Dynamics (NASDAQ:GDYN) in a research note published on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock.

GDYN has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Grid Dynamics from $13.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, August 20th. Wall Street Zen cut shares of Grid Dynamics from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Jefferies Financial Group started coverage on shares of Grid Dynamics in a research report on Monday, September 22nd. They set a “buy” rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Grid Dynamics currently has an average rating of “Buy” and a consensus target price of $14.80.

Grid Dynamics Stock Down 0.1%

Shares of NASDAQ GDYN opened at $7.99 on Thursday. The company has a market cap of $676.51 million, a P/E ratio of 42.05 and a beta of 1.03. Grid Dynamics has a 52 week low of $7.37 and a 52 week high of $25.50. The business has a 50-day simple moving average of $8.32 and a two-hundred day simple moving average of $11.61.

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

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GDYN. New York State Teachers Retirement System grew its stake in shares of Grid Dynamics by 35.1% in the 1st quarter. New York State Teachers Retirement System now owns 17,903 shares of the company’s stock worth $280,000 after buying an additional 4,656 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Grid Dynamics by 12.4% in the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock worth $4,995,000 after acquiring an additional 35,204 shares in the last quarter. Axiom Investors LLC DE purchased a new stake in shares of Grid Dynamics in the first quarter worth $3,876,000. Illinois Municipal Retirement Fund bought a new position in shares of Grid Dynamics during the first quarter valued at $546,000. Finally, SG Americas Securities LLC raised its position in shares of Grid Dynamics by 426.8% in the 1st quarter. SG Americas Securities LLC now owns 57,363 shares of the company’s stock worth $898,000 after purchasing an additional 46,475 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

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.