Grid Dynamics (NASDAQ:GDYN) Upgraded at Zacks Research

Key Points

• Grid Dynamics received an upgrade from Zacks Research, moving from a "strong sell" to a "hold" rating, reflecting a less negative outlook on the company's stock.
• Five investment analysts currently rate Grid Dynamics as a Buy, while one has assigned a Hold rating and another a Sell rating, resulting in an average rating of "Moderate Buy."
• Grid Dynamics reported a 21.7% year-over-year revenue increase, achieving $101.10 million in the latest quarter with earnings per share meeting analyst expectations.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC restated a "buy" rating and issued a $15.00 price target on shares of Grid Dynamics in a research report on Thursday, September 25th. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Grid Dynamics in a research report on Saturday, September 27th. Jefferies Financial Group assumed coverage on Grid Dynamics in a research report on Monday, September 22nd. They set a "buy" rating and a $11.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Grid Dynamics from $13.00 to $11.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 20th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $14.80.

Grid Dynamics Price Performance

Grid Dynamics stock opened at $7.99 on Monday. The stock has a market cap of $676.51 million, a PE ratio of 42.05 and a beta of 1.04. The stock's fifty day moving average is $7.99 and its two-hundred day moving average is $11.19. Grid Dynamics has a 1-year low of $7.37 and a 1-year high of $25.50.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. New York State Teachers Retirement System lifted its stake in shares of Grid Dynamics by 35.1% during the 1st quarter. New York State Teachers Retirement System now owns 17,903 shares of the company's stock worth $280,000 after purchasing an additional 4,656 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company's stock worth $4,995,000 after purchasing an additional 35,204 shares during the period. Axiom Investors LLC DE purchased a new stake in Grid Dynamics in the first quarter valued at approximately $3,876,000. Illinois Municipal Retirement Fund purchased a new stake in Grid Dynamics in the first quarter valued at approximately $546,000. Finally, SG Americas Securities LLC grew its holdings in Grid Dynamics by 426.8% in the first quarter. SG Americas Securities LLC now owns 57,363 shares of the company's stock valued at $898,000 after purchasing an additional 46,475 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.

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