Grid Dynamics (NASDAQ:GDYN) Stock Rating Upgraded by Zacks Research

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

A number of other research analysts have also issued reports on GDYN. JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Jefferies Financial Group lowered Grid Dynamics from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Friday, May 29th. TD Cowen lifted their price objective on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a report on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Grid Dynamics in a research note on Friday, July 31st. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average 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 two-hundred day moving average price of $6.47. Grid Dynamics has a 52 week low of $5.11 and a 52 week 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) last released its quarterly 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. The company had revenue of $108.16 million for the quarter, compared to analysts’ expectations of $106.55 million. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. As a group, equities research analysts expect that Grid Dynamics will post 0.12 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Yury Gryzlov sold 4,435 shares of the business’s stock in a transaction on Monday, June 1st. The stock was 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 of the company’s stock, valued at approximately $4,119,584. The trade was a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,147 shares of company stock worth $46,323. 6.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Grid Dynamics by 50.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,193 shares of the company’s stock worth $47,000 after purchasing an additional 1,742 shares during the last quarter. Quarry LP lifted its holdings 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 buying an additional 1,757 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Grid Dynamics by 175.5% in the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after buying an additional 2,057 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in shares of Grid Dynamics by 10.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 34,472 shares of the company’s stock valued at $196,000 after buying an additional 3,143 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Grid Dynamics by 10.9% in the second quarter. The Manufacturers Life Insurance Company now owns 34,513 shares of the company’s stock worth $399,000 after buying an additional 3,406 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

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.