Grid Dynamics (NASDAQ:GDYN – Free Report) had its price objective increased by TD Cowen from $9.00 to $13.00 in a research note published on Friday,Benzinga reports. TD Cowen currently has a buy rating on the stock.
Several other equities research analysts have also recently issued reports on the company. 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research note on Thursday. Needham & Company LLC raised their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday. Finally, Zacks Research downgraded shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.80.
Read Our Latest Report on GDYN
Grid Dynamics Stock Performance
Grid Dynamics stock opened at $13.36 on Friday. Grid Dynamics has a 1-year low of $5.11 and a 1-year high of $13.39. The company has a fifty day simple moving average of $8.12 and a 200 day simple moving average of $6.99. The company has a market cap of $1.08 billion, a P/E ratio of 148.44 and a beta of 0.88.
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The business had revenue of $114.29 million for the quarter, compared to analysts’ expectations of $112.77 million. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. On average, equities research analysts forecast that Grid Dynamics will post 0.20 EPS for the current year.
Insiders Place Their Bets
In other Grid Dynamics news, COO Yury Gryzlov sold 10,512 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $10.51, for a total transaction of $110,481.12. Following the completion of the transaction, the chief operating officer directly owned 484,778 shares in the company, valued at $5,095,016.78. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 dated Friday, October 30th. The stock was sold at an average price of $10.51, for a total value of $210,200.00. Following the transaction, the chief financial officer owned 374,509 shares of the company’s stock, valued at $3,936,089.59. The trade was 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. In the last 90 days, insiders sold 44,921 shares of company stock valued at $436,306. Company insiders own 6.50% of the company’s stock.
Institutional Investors Weigh In On Grid Dynamics
A number of hedge funds and other institutional investors have recently modified their holdings of GDYN. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Grid Dynamics in the third quarter worth about $262,000. Vise Technologies Inc. purchased a new stake in shares of Grid Dynamics in the 3rd quarter valued at $103,000. Sequoia Financial Advisors LLC purchased a new position in Grid Dynamics in the second quarter valued at approximately $75,000. Squarepoint Ops LLC acquired a new stake in shares of Grid Dynamics in the 2nd quarter valued at approximately $2,702,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Grid Dynamics in the 2nd quarter worth approximately $234,000. Institutional investors own 71.18% of the company’s stock.
More Grid Dynamics News
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.
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