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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.60.

GDYN has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC dropped their price objective on Grid Dynamics from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grid Dynamics in a research report on Wednesday, December 24th. Zacks Research downgraded Grid Dynamics from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Finally, TD Cowen dropped their target price on Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, March 6th.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $6.02 on Monday. The business’s fifty day moving average is $7.35 and its two-hundred day moving average is $8.13. The firm has a market cap of $513.81 million, a P/E ratio of 60.20 and a beta of 0.84. Grid Dynamics has a 52 week low of $5.85 and a 52 week high of $17.04.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a return on equity of 1.46% and a net margin of 2.35%.The business had revenue of $106.15 million during the quarter, compared to analysts’ expectations of $105.92 million. During the same period in the previous year, the business posted $0.12 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Grid Dynamics will post 0.18 earnings per share for the current year.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC bought a new stake in shares of Grid Dynamics during the fourth quarter worth about $194,000. T. Rowe Price Investment Management Inc. grew its holdings in shares of Grid Dynamics by 4,907,857.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,030,671 shares of the company’s stock valued at $9,307,000 after acquiring an additional 1,030,650 shares in the last quarter. Invesco Ltd. increased its position in shares of Grid Dynamics by 4.9% during the fourth quarter. Invesco Ltd. now owns 279,867 shares of the company’s stock valued at $2,527,000 after acquiring an additional 12,993 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Grid Dynamics by 20.8% during the fourth quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock valued at $21,282,000 after acquiring an additional 405,381 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Grid Dynamics during the fourth quarter worth $359,000. 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.