Grid Dynamics (NASDAQ:GDYN) Earns Buy Rating from Needham & Company LLC

Key Points

• Grid Dynamics has received a "buy" rating from Needham & Company LLC, with a target price of $15.00, indicating an upside potential of 84.05% from its last close.
• Other analysts have varied opinions, with Jefferies rating it a "buy" at $11.00, while JPMorgan Chase decreased their target to $11.00, and Wall Street Zen downgraded it to a "hold."
• The company's recent quarterly earnings met expectations with an EPS of $0.10 and a revenue increase of 21.7% compared to the same quarter last year, totaling $101.10 million.

Grid Dynamics (NASDAQ:GDYN - Get Free Report)'s stock had its "buy" rating restated by equities researchers at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $15.00 target price on the stock. Needham & Company LLC's target price points to a potential upside of 84.05% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group started coverage on Grid Dynamics in a research report on Monday. They issued a "buy" rating and a $11.00 target price for the company. JPMorgan Chase & Co. decreased their target price 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. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Grid Dynamics has a consensus rating of "Buy" and an average target price of $14.80.

Grid Dynamics Trading Up 2.0%

Grid Dynamics stock opened at $8.15 on Thursday. The firm has a market capitalization of $690.06 million, a P/E ratio of 42.90 and a beta of 1.03. The stock has a fifty day moving average price of $8.43 and a 200 day moving average price of $11.77. Grid Dynamics has a 52 week low of $7.37 and a 52 week high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. Grid Dynamics had a return on equity of 1.89% and a net margin of 4.37%.The firm had revenue of $101.10 million during the quarter, compared to the consensus estimate of $100.45 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The firm's quarterly 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, equities analysts predict that Grid Dynamics will post 0.18 EPS for the current year.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GDYN. Caitong International Asset Management Co. Ltd raised its position in shares of Grid Dynamics by 28,150.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock worth $27,000 after purchasing an additional 1,689 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Grid Dynamics by 199.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock worth $36,000 after purchasing an additional 1,526 shares during the period. USA Financial Formulas acquired a new stake in shares of Grid Dynamics during the 1st quarter worth approximately $42,000. Canada Pension Plan Investment Board acquired a new stake in shares of Grid Dynamics during the 2nd quarter worth approximately $43,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Grid Dynamics by 208.2% during the 2nd 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 period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.

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