TD Cowen Lowers Grid Dynamics (NASDAQ:GDYN) Price Target to $8.00

Grid Dynamics (NASDAQ:GDYN) had its price target decreased by equities researchers at TD Cowen from $10.00 to $8.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 37.81% from the company’s current price.

GDYN has been the topic of several other research reports. 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 report on Friday, May 29th. Weiss Ratings lowered Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 4th. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Needham & Company LLC reduced their price target on shares of Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Citigroup restated a “cautious” rating on shares of Grid Dynamics in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.00.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock traded down $0.06 during trading on Thursday, reaching $5.80. 386,154 shares of the company traded hands, compared to its average volume of 1,890,210. The firm has a market capitalization of $485.47 million, a PE ratio of 116.12 and a beta of 0.98. Grid Dynamics has a 1-year low of $5.11 and a 1-year high of $12.01. The company has a 50 day moving average price of $6.37 and a 200-day moving average price of $6.93.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $104.10 million during the quarter, compared to the consensus estimate of $103.32 million. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. Equities research analysts expect that Grid Dynamics will post 0.1 earnings per share for the current year.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was 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 in the company, valued at approximately $4,119,584. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 6,147 shares of company stock valued at $46,323. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its position in Grid Dynamics by 175.5% in the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock worth $29,000 after purchasing an additional 2,057 shares in the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 2,634 shares in the last quarter. Quarry LP boosted its stake 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 buying an additional 1,757 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Grid Dynamics in the second quarter valued at approximately $43,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Grid Dynamics by 60.1% during the first quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock valued at $47,000 after acquiring an additional 3,122 shares during the last quarter. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Company Profile

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.