Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $9.00

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $9.00.

A number of research firms have recently weighed in on GDYN. Citigroup reiterated a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. Zacks Research upgraded Grid Dynamics from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Needham & Company LLC lowered their price target on Grid Dynamics from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Weiss Ratings cut Grid Dynamics from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 4th. Finally, Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research report on Friday, May 29th.

Grid Dynamics Stock Up 0.2%

Shares of NASDAQ GDYN opened at $5.61 on Friday. Grid Dynamics has a 52 week low of $5.11 and a 52 week high of $10.83. The firm’s fifty day moving average is $6.24 and its 200 day moving average is $6.66. The company has a market cap of $469.16 million, a price-to-earnings ratio of 112.22 and a beta of 0.98.

Grid Dynamics (NASDAQ:GDYN) last announced 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. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business had revenue of $104.10 million during the quarter, compared to analysts’ expectations of $103.32 million. During the same quarter in the prior year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Grid Dynamics will post 0.1 earnings per share for the current year.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,435 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 514,948 shares in the company, valued at $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,147 shares of company stock worth $46,323 in the last ninety days. 6.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its position in shares of Grid Dynamics by 50.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock valued at $47,000 after purchasing an additional 1,742 shares in the last quarter. Quarry LP raised its holdings in 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 in the last quarter. Trust Point Inc. lifted its position in Grid Dynamics by 13.6% during the fourth quarter. Trust Point Inc. now owns 14,947 shares of the company’s stock valued at $135,000 after buying an additional 1,785 shares during the period. Harbor Capital Advisors Inc. lifted its position in Grid Dynamics by 8.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 24,494 shares of the company’s stock valued at $221,000 after buying an additional 1,821 shares during the period. Finally, Hantz Financial Services Inc. lifted its position in Grid Dynamics by 175.5% during the fourth quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after buying an additional 2,057 shares during the period. 71.18% of the stock is currently owned by institutional investors.

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.