Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Has Consensus Price Target of $9.40 According to Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned an average recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.80.

GDYN has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen upped their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research downgraded shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a research note on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday.

Grid Dynamics Trading Up 40.8%

NASDAQ GDYN opened at $13.36 on Tuesday. Grid Dynamics has a 12 month low of $5.11 and a 12 month high of $13.39. The stock has a market cap of $1.08 billion, a P/E ratio of 148.44 and a beta of 0.97. The stock’s fifty day moving average price is $8.12 and its 200-day moving average price is $6.99.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The business had revenue of $114.29 million during the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.23%. As a group, analysts forecast that Grid Dynamics will post 0.20 earnings per share for the current fiscal year.

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,512 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $10.51, for a total value of $110,481.12. Following the sale, the chief operating officer owned 484,778 shares in the company, valued at approximately $5,095,016.78. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anil Doradla sold 20,000 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $10.51, for a total value of $210,200.00. Following the completion of the transaction, the chief financial officer owned 374,509 shares in the company, valued at approximately $3,936,089.59. This trade represents a 5.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 44,921 shares of company stock worth $436,306 in the last 90 days. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Grid Dynamics during the 3rd quarter valued at $262,000. Vise Technologies Inc. bought a new position in Grid Dynamics in the 3rd quarter worth $103,000. Sequoia Financial Advisors LLC purchased a new position in shares of Grid Dynamics during the 2nd quarter valued at about $75,000. Squarepoint Ops LLC purchased a new position in Grid Dynamics during the second quarter valued at approximately $2,702,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Grid Dynamics during the second quarter valued at approximately $234,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Key Grid Dynamics News

Here are the key news stories impacting Grid Dynamics this week:

• Positive Sentiment: Q3 earnings and revenue exceeded expectations. Grid Dynamics reported adjusted earnings of $0.18 per share, above the $0.12–$0.13 consensus range and up from $0.09 a year earlier. Revenue reached $114.29 million, topping the $112.77 million estimate. Grid Dynamics Q3 earnings report
• Positive Sentiment: Record quarterly performance and constructive guidance supported the rally. Company coverage characterized the quarter as a record result, while management’s outlook for the next quarter was described as optimistic, reinforcing expectations for continued growth. Grid Dynamics record third-quarter results
• Positive Sentiment: TD Cowen raised its price target and initiated a Buy recommendation. The firm increased its target from $9 to $13, signaling improved confidence in Grid Dynamics’ earnings and growth prospects. TD Cowen analyst recommendation
• Positive Sentiment: The company launched a business process consulting practice. The new offering could broaden Grid Dynamics’ services and create additional opportunities to win enterprise transformation work. Grid Dynamics consulting practice launch
• Neutral Sentiment: Despite the Buy rating, TD Cowen’s $13 target is slightly below the stock’s current trading level, indicating that much of the near-term optimism may already be reflected in the shares.
• Negative Sentiment: Grid Dynamics remains richly valued relative to reported profitability, with a very high price-to-earnings ratio and a net margin below 1%, leaving the stock sensitive to any slowdown in growth or weaker future guidance.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.