Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $10.60 Average Price Target from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.60.

A number of brokerages have commented on GDYN. Weiss Ratings lowered Grid Dynamics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 7th. Zacks Research lowered Grid Dynamics from a “hold” rating to a “strong sell” rating in a research report on Monday, March 9th. TD Cowen decreased their price objective on Grid Dynamics from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Needham & Company LLC reduced their target price on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, March 6th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Thrivent Financial for Lutherans boosted its stake in shares of Grid Dynamics by 3.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 47,645 shares of the company’s stock valued at $367,000 after purchasing an additional 1,640 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Grid Dynamics by 50.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock worth $47,000 after purchasing an additional 1,742 shares during the last quarter. Quarry LP boosted its position in shares of 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 purchasing an additional 1,757 shares during the last quarter. Trust Point Inc. boosted its position in shares of Grid Dynamics by 13.6% in the 4th quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock worth $135,000 after purchasing an additional 1,785 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Grid Dynamics by 8.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 24,494 shares of the company’s stock worth $221,000 after purchasing an additional 1,821 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $5.28 on Friday. Grid Dynamics has a 12 month low of $5.13 and a 12 month high of $15.32. The company’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $7.90. The firm has a market cap of $450.65 million, a P/E ratio of 52.80 and a beta of 0.88.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $106.15 million for the quarter, compared to analyst estimates of $105.92 million. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.12 EPS. As a group, equities analysts predict that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

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.