Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $9.40.

GDYN has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of 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. Weiss Ratings restated a "sell (d)" rating on shares of Grid Dynamics in a report on Friday, July 31st. TD Cowen lifted their price target on shares of Grid Dynamics from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Needham & Company LLC upped their price target on shares of Grid Dynamics from $8.00 to $10.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Citigroup reissued a "cautious" rating on shares of Grid Dynamics in a research report on Friday, May 29th.

Grid Dynamics Price Performance

NASDAQ:GDYN opened at $8.06 on Monday. The firm has a market capitalization of $653.91 million, a price-to-earnings ratio of 403.20 and a beta of 0.89. Grid Dynamics has a 1 year low of $5.11 and a 1 year high of $10.21. The business has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $6.48.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The firm had revenue of $108.16 million for the quarter, compared to the consensus estimate of $106.55 million. As a group, analysts expect that Grid Dynamics will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 3,930 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $8.00, for a total transaction of $31,440.00. Following the transaction, the chief operating officer owned 508,087 shares of the company's stock, valued at approximately $4,064,696. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,560 shares of company stock worth $74,132 over the last quarter. Corporate insiders own 6.50% of the company's stock.

Hedge Funds Weigh In On Grid Dynamics

A number of large investors have recently bought and sold shares of GDYN. Hantz Financial Services Inc. increased its stake in Grid Dynamics by 175.5% in the fourth 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 during the period. Quarry LP lifted its position in shares of Grid Dynamics by 57.1% during 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 during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics during the second quarter valued at $43,000. PNC Financial Services Group Inc. boosted its stake 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 purchasing an additional 3,122 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Grid Dynamics by 208.2% in the second quarter. Tower Research Capital LLC TRC now owns 6,213 shares of the company's stock worth $72,000 after purchasing an additional 4,197 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

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.

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