Lord Abbett & CO. LLC Grows Holdings in Grid Dynamics Holdings, Inc. $GDYN

Key Points

• Lord Abbett & CO. LLC increased its stake in Grid Dynamics Holdings, Inc. by 27.7% during the first quarter, now owning over 1 million shares valued at approximately $16.7 million.
• Grid Dynamics recently reported earnings of $0.10 per share, meeting analysts' expectations and representing a year-over-year revenue increase of 21.7%.
• Despite recent upgrades and downgrades, Grid Dynamics has an average rating of "Moderate Buy" with a consensus price target of $17.50.

Lord Abbett & CO. LLC boosted its holdings in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 27.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,067,454 shares of the company's stock after purchasing an additional 231,598 shares during the period. Lord Abbett & CO. LLC owned about 1.27% of Grid Dynamics worth $16,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Wyoming increased its stake in Grid Dynamics by 4.1% in the 4th quarter. State of Wyoming now owns 26,495 shares of the company's stock valued at $589,000 after buying an additional 1,046 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics in the 4th quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Grid Dynamics by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company's stock valued at $722,000 after purchasing an additional 1,106 shares during the period. Arizona State Retirement System boosted its holdings in Grid Dynamics by 7.4% in the 1st quarter. Arizona State Retirement System now owns 19,109 shares of the company's stock valued at $299,000 after purchasing an additional 1,324 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock valued at $36,000 after purchasing an additional 1,526 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Trading Up 1.0%

Shares of GDYN stock traded up $0.0750 during trading hours on Thursday, hitting $7.7750. The company's stock had a trading volume of 184,676 shares, compared to its average volume of 829,624. The company has a 50 day moving average of $10.29 and a 200 day moving average of $14.07. Grid Dynamics Holdings, Inc. has a 12-month low of $7.46 and a 12-month high of $25.50. The stock has a market cap of $658.31 million, a PE ratio of 40.84 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Grid Dynamics had a net margin of 4.37% and a return on equity of 1.89%. The company had revenue of $101.10 million during the quarter, compared to analyst estimates of $100.45 million. During the same quarter last year, the firm posted $0.08 earnings per share. Grid Dynamics's revenue was up 21.7% compared to the same quarter last year. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on GDYN. JPMorgan Chase & Co. lowered their price target on shares of Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating for the company in a research note on Wednesday. Wall Street Zen cut shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, Needham & Company LLC dropped their price objective on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Grid Dynamics currently has a consensus rating of "Buy" and an average price target of $15.75.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.