Grid Dynamics (NASDAQ:GDYN) Price Target Lowered to $11.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its target price for Grid Dynamics from $13.00 to $11.00, maintaining an "overweight" rating, suggesting a potential upside of 41.94% from the current stock price.
• Other analysts have also adjusted their ratings, with Needham & Company reducing their target from $20.00 to $15.00, while Wall Street Zen changed their rating from "buy" to "hold."
• Grid Dynamics reported a quarterly earnings of $0.10 per share, meeting consensus estimates, and achieved revenue of $101.10 million, reflecting a 21.7% increase compared to the same quarter last year.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $13.00 to $11.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 41.94% from the stock's current price.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Grid Dynamics from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Wall Street Zen cut shares of Grid Dynamics from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Grid Dynamics presently has a consensus rating of "Buy" and an average target price of $15.75.

Grid Dynamics Price Performance

Shares of GDYN traded down $0.10 during midday trading on Wednesday, hitting $7.75. The stock had a trading volume of 290,187 shares, compared to its average volume of 829,050. Grid Dynamics has a 1 year low of $7.52 and a 1 year high of $25.50. The firm has a market cap of $656.19 million, a PE ratio of 40.73 and a beta of 1.06. The stock's 50 day moving average is $10.38 and its 200 day moving average is $14.12.

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

Institutional Trading of Grid Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of GDYN. State of Wyoming increased its holdings in shares of Grid Dynamics by 4.1% during the 4th 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. Coppell Advisory Solutions LLC purchased a new position in shares of Grid Dynamics during the 4th quarter valued at approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Grid Dynamics by 3.5% during 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 in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Grid Dynamics by 8.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,063 shares of the company's stock valued at $186,000 after purchasing an additional 1,302 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Grid Dynamics by 7.4% during 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 in the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.