Wall Street Zen Downgrades Grid Dynamics (NASDAQ:GDYN) to Hold

Grid Dynamics (NASDAQ:GDYN - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday.

Separately, Needham & Company LLC lifted their price objective on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $18.75.

Grid Dynamics Trading Up 1.2%

NASDAQ:GDYN traded up $0.13 on Friday, hitting $10.63. The company had a trading volume of 532,784 shares, compared to its average volume of 735,179. The stock has a market capitalization of $898.34 million, a price-to-earnings ratio of 88.55 and a beta of 1.04. The firm has a 50 day moving average of $12.26 and a two-hundred day moving average of $15.99. Grid Dynamics has a 52 week low of $10.26 and a 52 week high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The business had revenue of $100.42 million during the quarter, compared to analyst estimates of $98.19 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company's revenue was up 25.8% on a year-over-year basis. As a group, equities analysts forecast that Grid Dynamics will post 0.18 EPS for the current year.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total transaction of $26,440.00. Following the completion of the sale, the chief operating officer directly owned 474,269 shares in the company, valued at $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 6,737 shares of company stock valued at $84,251. Corporate insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Grid Dynamics by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock worth $123,110,000 after purchasing an additional 1,171,481 shares during the last quarter. Loomis Sayles & Co. L P purchased a new position in Grid Dynamics during the 4th quarter valued at about $55,114,000. Dimensional Fund Advisors LP grew its holdings in Grid Dynamics by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock worth $40,399,000 after acquiring an additional 17,881 shares in the last quarter. Next Century Growth Investors LLC increased its holdings in shares of Grid Dynamics by 10.8% in the 1st quarter. Next Century Growth Investors LLC now owns 1,798,071 shares of the company's stock valued at $28,140,000 after acquiring an additional 175,845 shares during the period. Finally, Geode Capital Management LLC lifted its position in Grid Dynamics by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 1,433,773 shares of the company's stock valued at $31,895,000 after purchasing an additional 52,344 shares during the period. Hedge funds and other institutional investors own 71.18% of the company's stock.

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.