Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) traded up 8% during trading on Wednesday . The company traded as high as $6.04 and last traded at $6.1320. 172,612 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,876,522 shares. The stock had previously closed at $5.68.
Analysts Set New Price Targets
GDYN has been the topic of several recent research reports. Citigroup reissued a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. TD Cowen reduced their target price on Grid Dynamics from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Zacks Research upgraded shares of Grid Dynamics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a research note on Friday, May 29th. Finally, Needham & Company LLC decreased their price objective on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.40.
Check Out Our Latest Research Report on Grid Dynamics
Grid Dynamics Price Performance
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The firm had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.1 earnings per share for the current fiscal year.
Insider Activity at Grid Dynamics
In other news, COO Yury Gryzlov sold 4,435 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.00, for a total transaction of $35,480.00. Following the transaction, the chief operating officer directly owned 514,948 shares of the company’s stock, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,147 shares of company stock worth $46,323 over the last quarter. 6.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Grid Dynamics
Large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its holdings in Grid Dynamics by 175.5% in the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after acquiring an additional 2,057 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Grid Dynamics by 273.2% during the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company’s stock worth $32,000 after purchasing an additional 2,634 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Grid Dynamics during the 2nd quarter worth $43,000. Quarry LP increased its position 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 purchasing an additional 1,757 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Grid Dynamics by 50.5% in the fourth 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 period. Institutional investors and hedge funds own 71.18% of the company’s stock.
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.
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