Grid Dynamics (NASDAQ:GDYN) Upgraded by Zacks Research to "Strong-Buy" Rating

Key Points

• Zacks Research upgraded Grid Dynamics to “Strong Buy” from “Hold.” MarketBeat reports a consensus “Moderate Buy” rating and an average analyst price target of $9.40.
• Grid Dynamics reported quarterly earnings of $0.11 per share, exceeding the $0.10 consensus estimate, while revenue of $108.16 million also topped expectations.
• The stock opened at $7.58 and was up 2.6%, with institutional investors owning 71.18% of shares; insiders have sold 6,147 shares worth about $46,323 over the past 90 days.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on GDYN. TD Cowen lifted their price objective on Grid Dynamics from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "sell (d)" rating on shares of Grid Dynamics in a research report on Friday, July 31st. Needham & Company LLC lifted their price target on Grid Dynamics from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Jefferies Financial Group cut Grid Dynamics from a "buy" rating to a "hold" rating and set a $8.00 price target on the stock. in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $7.00 to $8.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, Grid Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $9.40.

Grid Dynamics Trading Up 2.6%

NASDAQ:GDYN opened at $7.58 on Wednesday. The company has a 50-day moving average price of $6.21 and a 200-day moving average price of $6.47. Grid Dynamics has a 12 month low of $5.11 and a 12 month high of $10.21. The stock has a market cap of $633.92 million, a price-to-earnings ratio of 379.19 and a beta of 0.92.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. The firm had revenue of $108.16 million for the quarter, compared to analyst estimates of $106.55 million. Equities analysts forecast that Grid Dynamics will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 4,435 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.00, for a total value of $35,480.00. Following the sale, the chief operating officer owned 514,948 shares in the company, valued at approximately $4,119,584. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,147 shares of company stock valued at $46,323 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Grid Dynamics

A number of hedge funds have recently made changes to their positions in GDYN. Banco BTG Pactual S.A. purchased a new position in Grid Dynamics in the 4th quarter worth approximately $2,574,000. Walleye Capital LLC bought a new stake in shares of Grid Dynamics in the 1st quarter worth $1,007,000. 1492 Capital Management LLC increased its holdings in shares of Grid Dynamics by 40.8% in the 4th quarter. 1492 Capital Management LLC now owns 809,951 shares of the company's stock worth $7,314,000 after purchasing an additional 234,694 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Grid Dynamics by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 5,920,753 shares of the company's stock worth $53,464,000 after purchasing an additional 279,995 shares during the last quarter. Finally, P.A.W. Capital Corp purchased a new position in shares of Grid Dynamics in the fourth quarter worth $903,000. 71.18% of the stock is owned by institutional investors.

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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