Grid Dynamics Holdings, Inc. $GDYN Stock Position Boosted by Next Century Growth Investors LLC

Key Points

• Next Century Growth Investors LLC has increased its holdings in Grid Dynamics Holdings, Inc. by 10.8% during the first quarter, now owning approximately 1,798,071 shares valued at around $28.14 million.
• Grid Dynamics reported $101.10 million in revenue for the last quarter, exceeding analyst estimates of $100.45 million and marking a 21.7% increase from the same quarter last year.
• Several research analysts have adjusted their price targets for Grid Dynamics, with Needham & Company lowering it from $20 to $15 while maintaining a "buy" rating on the stock.

Next Century Growth Investors LLC raised its stake in shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Free Report) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,798,071 shares of the company's stock after buying an additional 175,845 shares during the quarter. Grid Dynamics comprises approximately 2.5% of Next Century Growth Investors LLC's holdings, making the stock its 6th largest position. Next Century Growth Investors LLC owned about 2.14% of Grid Dynamics worth $28,140,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming grew its holdings in shares of Grid Dynamics by 4.1% in the fourth quarter. State of Wyoming now owns 26,495 shares of the company's stock valued at $589,000 after purchasing an additional 1,046 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Grid Dynamics by 3.5% in the fourth 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 in the last quarter. Arizona State Retirement System grew its holdings in shares of Grid Dynamics by 7.4% in the first 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 in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Grid Dynamics by 199.0% in the first 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 in the last quarter. Finally, Corebridge Financial Inc. grew its holdings in shares of Grid Dynamics by 5.2% in the first quarter. Corebridge Financial Inc. now owns 32,159 shares of the company's stock valued at $503,000 after purchasing an additional 1,583 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Needham & Company LLC lowered their price target on Grid Dynamics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, August 1st. JPMorgan Chase & Co. lowered their price target on Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating for the company in a research report on Wednesday, August 20th. Finally, Wall Street Zen downgraded Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $15.75.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN traded up $0.22 on Friday, hitting $8.29. 1,723,067 shares of the company's stock were exchanged, compared to its average volume of 1,618,368. 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 capitalization of $701.91 million, a price-to-earnings ratio of 43.63 and a beta of 1.06. The business's 50 day simple moving average is $9.79 and its two-hundred day simple moving average is $13.27.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released 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. The business had revenue of $101.10 million during the quarter, compared to the consensus estimate of $100.45 million. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The business's revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. Grid Dynamics has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities analysts forecast that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current fiscal year.

About Grid Dynamics

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.