Grid Dynamics (NASDAQ:GDYN) Price Target Lowered to $8.00 at Needham & Company LLC

Key Points

• Needham cut its price target to $8.00 (from $10.00) while maintaining a "buy" rating, a target that implies roughly a 40.6% upside from the stock's prior close.
• Analyst opinions are mixed — five analysts rate GDYN a Buy and two rate it a Sell, leaving a consensus rating of "Hold" with an average price target of $10.20.
• Grid Dynamics slightly beat the quarter (EPS $0.09 vs. $0.08 and revenue $104.1M vs. $103.32M) but remains low-margin (net margin 2.35%) and trades near its 52-week low (opened at $5.69; market cap ≈ $486M).

Grid Dynamics (NASDAQ:GDYN - Get Free Report) had its price target lowered by Needham & Company LLC from $10.00 to $8.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's target price would indicate a potential upside of 40.60% from the company's previous close.

Other analysts have also issued reports about the stock. Zacks Research lowered shares of Grid Dynamics from a "hold" rating to a "strong sell" rating in a research note on Monday, March 9th. Northland Securities decreased their target price on Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, March 9th. TD Cowen decreased their target price on Grid Dynamics from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, March 6th. JPMorgan Chase & Co. decreased their target price on Grid Dynamics from $10.00 to $9.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Finally, Weiss Ratings lowered Grid Dynamics from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, April 7th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Grid Dynamics currently has a consensus rating of "Hold" and an average price target of $10.20.

Grid Dynamics Stock Performance

NASDAQ:GDYN opened at $5.69 on Friday. The firm has a market cap of $485.64 million, a P/E ratio of 56.90 and a beta of 0.88. Grid Dynamics has a fifty-two week low of $5.13 and a fifty-two week high of $15.32. The firm has a 50-day simple moving average of $6.04 and a two-hundred day simple moving average of $7.68.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $104.10 million during the quarter, compared to analyst estimates of $103.32 million. Grid Dynamics had a net margin of 2.35% and a return on equity of 1.46%. Grid Dynamics's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. On average, equities research analysts predict that Grid Dynamics will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Grid Dynamics

A number of hedge funds have recently bought and sold shares of GDYN. Hantz Financial Services Inc. increased its position in shares of Grid Dynamics by 175.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company's stock valued at $29,000 after purchasing an additional 2,057 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Grid Dynamics during the 3rd quarter valued at about $31,000. GAMMA Investing LLC increased its position in shares of Grid Dynamics by 273.2% during the 4th quarter. GAMMA Investing LLC now owns 3,598 shares of the company's stock valued at $32,000 after purchasing an additional 2,634 shares during the last quarter. Quarry LP increased its position in shares of Grid Dynamics by 57.1% during the 3rd quarter. Quarry LP now owns 4,835 shares of the company's stock valued at $37,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 71.18% of the company's stock.

Grid Dynamics Company Profile

Grid Dynamics NASDAQ: GDYN is a digital engineering and technology services company that helps enterprises accelerate their digital transformation initiatives. The company specializes in designing and implementing scalable, cloud-native solutions that leverage advanced analytics, machine learning and artificial intelligence to optimize operations, enhance customer experiences and drive revenue growth. Its technology expertise spans e-commerce platforms, modern data architectures, DevOps and automation, as well as custom application development across a range of industries including retail, financial services, high tech and automotive.

Key service offerings include cloud migration and modernization, data engineering and analytics, AI/ML-driven insights, digital commerce and omnichannel solutions.

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