Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 2,646,355 shares were traded during mid-day trading, an increase of 82% from the previous session's volume of 1,452,285 shares.The stock last traded at $6.5850 and had previously closed at $6.10.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Weiss Ratings lowered Grid Dynamics from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. Needham & Company LLC dropped their target price on Grid Dynamics from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, May 1st. Northland Securities dropped their target price on Grid Dynamics from $14.00 to $12.00 and set an "outperform" rating on the stock in a report on Monday, March 9th. JPMorgan Chase & Co. dropped their target price on Grid Dynamics from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Finally, TD Cowen dropped their price target on shares of Grid Dynamics from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Grid Dynamics currently has an average rating of "Hold" and a consensus target price of $10.00.
Read Our Latest Stock Report on Grid Dynamics
Grid Dynamics Price Performance
The company has a market capitalization of $576.97 million, a price-to-earnings ratio of 135.23 and a beta of 0.86. The firm has a fifty day simple moving average of $6.03 and a 200 day simple moving average of $7.67.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Grid Dynamics had a net margin of 1.27% and a return on equity of 1.20%. The business had revenue of $104.10 million for the quarter, compared to analyst estimates of $103.32 million. During the same quarter last year, the business earned $0.11 earnings per share. The company's revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts predict that Grid Dynamics Holdings, Inc. will post 0.1 EPS for the current year.
Institutional Trading of Grid Dynamics
A number of institutional investors have recently made changes to their positions in GDYN. Amundi acquired a new stake in shares of Grid Dynamics in the first quarter worth approximately $252,000. AQR Capital Management LLC boosted its position in Grid Dynamics by 32.4% during the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company's stock worth $242,000 after acquiring an additional 3,791 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Grid Dynamics by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company's stock valued at $573,000 after acquiring an additional 4,116 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company's stock valued at $4,995,000 after acquiring an additional 35,204 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Grid Dynamics by 35.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company's stock valued at $2,546,000 after acquiring an additional 42,801 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.
About Grid Dynamics
(
Get Free Report)
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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