During the last session, Grid Dynamics Holdings Inc. (NASDAQ:GDYN)’s traded shares were 1.13 million, with the beta value of the company hitting 0.87. At the end of the trading day, the stock’s price was $8.93, reflecting an intraday gain of 0.22% or $0.02. The 52-week high for the GDYN share is $24.27, that puts it down -171.78 from that peak though still a striking 10.41% gain since the share price plummeted to a 52-week low of $8.00. The company’s market capitalization is $654.48M, and the average intraday trading volume over the past 10 days was 0.58 million shares, and the average trade volume was 429.18K shares over the past three months.
Grid Dynamics Holdings Inc. (GDYN) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.90. GDYN has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.08.
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Grid Dynamics Holdings Inc. (NASDAQ:GDYN) trade information
Grid Dynamics Holdings Inc. (GDYN) registered a 0.22% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.22% in intraday trading to $8.93 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is 8.90%, and it has moved by -19.84% in 30 days. Based on these gigs, the overall price performance for the year is -46.75%. The short interest in Grid Dynamics Holdings Inc. (NASDAQ:GDYN) is 1.58 million shares and it means that shorts have 4.83 day(s) to cover.
The consensus price target of analysts on Wall Street is $14.33, which implies an increase of 37.68% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $12.00 and $17.00 respectively. As a result, GDYN is trading at a discount of -90.37% off the target high and -34.38% off the low.
Grid Dynamics Holdings Inc. (GDYN) estimates and forecasts
Statistics show that Grid Dynamics Holdings Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Grid Dynamics Holdings Inc. (GDYN) shares have gone down -28.10% during the last six months, with a year-to-date growth rate less than the industry average at -21.57% against 9.00. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -33.30% this quarter and then drop -40.00% in the quarter after that. In the rating firms’ projections, revenue will increase 4.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $77.15 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $78.17 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $77.33 million and $81.16 million respectively. In this case, analysts expect current quarter sales to shrink by -0.20% and then drop by -3.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 73.58%. While earnings are projected to return -221.60% in 2023.
Grid Dynamics Holdings Inc. is due to release its next quarterly earnings in June. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Grid Dynamics Holdings Inc. (NASDAQ:GDYN)’s Major holders
Grid Dynamics Holdings Inc. insiders own 25.70% of total outstanding shares while institutional holders control 71.98%, with the float percentage being 96.88%. Wasatch Advisors LP is the largest shareholder of the company, while 238 institutions own stock in it. As of Mar 30, 2023, the company held over 5.71 million shares (or 7.62% of all shares), a total value of $65.41 million in shares.
The next largest institutional holding, with 5.47 million shares, is of Blackrock Inc.’s that is approximately 7.30% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $62.66 million.
Also, the Mutual Funds coming in first place with the largest holdings of Grid Dynamics Holdings Inc. (GDYN) shares are Baron Small Cap Fund and Wasatch Small Cap Growth Fund. Data provided on Dec 30, 2022 indicates that Baron Small Cap Fund owns about 3.0 million shares. This amounts to just over 4.01 percent of the company’s overall shares, with a $33.66 million market value. The same data shows that the other fund manager holds slightly less at 2.5 million, or about 3.34% of the stock, which is worth about $28.0 million.