Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Rating of “Hold” from Analysts
by Renee Jackson · The Cerbat GemGrid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) has received an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $10.60.
A number of equities research analysts have weighed in on the stock. Needham & Company LLC dropped their price target on shares of Grid Dynamics from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Northland Securities dropped their price objective on shares of Grid Dynamics from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Monday, March 9th. TD Cowen dropped their price objective on shares of Grid Dynamics from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, March 6th. Zacks Research cut shares of Grid Dynamics from a “hold” rating to a “strong sell” rating in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Grid Dynamics from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th.
Get Our Latest Stock Report on GDYN
Grid Dynamics Price Performance
Shares of GDYN opened at $5.56 on Friday. Grid Dynamics has a 1-year low of $5.13 and a 1-year high of $15.32. The stock has a market cap of $474.55 million, a PE ratio of 55.60 and a beta of 0.88. The firm has a 50-day simple moving average of $6.30 and a two-hundred day simple moving average of $7.87.
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. The business had revenue of $106.15 million during the quarter, compared to analysts’ expectations of $105.92 million. During the same period last year, the business earned $0.12 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts expect that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $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 purchasing an additional 1,030,650 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Grid Dynamics by 4.9% in the fourth quarter. Invesco Ltd. now owns 279,867 shares of the company’s stock valued at $2,527,000 after purchasing an additional 12,993 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Grid Dynamics by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 2,356,779 shares of the company’s stock valued at $21,282,000 after purchasing an additional 405,381 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $359,000. Institutional investors and hedge funds own 71.18% of the company’s stock.
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.