Needham slashes price target on Grid Dynamics Holdings Inc. [GDYN] – find out why.

Grid Dynamics Holdings Inc. [NASDAQ: GDYN] stock went on a downward path that fall over -3.64% on Thursday, amounting to a one-week price decrease of less than -5.59%. The company report on September 8, 2022 that Grid Dynamics Announces Pricing of Public Offering.

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Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (“Grid Dynamics”), a leader in enterprise-level digital transformation, today announced the pricing of an underwritten public offering of 5,714,286 shares of its common stock at a price to the public of $17.50 per share. Closing of the offering is expected to occur on September 12, 2022, subject to customary closing conditions. In addition, Grid Dynamics granted the underwriters a 30-day option to purchase up to 857,142 additional shares of its common stock.

J.P. Morgan Securities LLC and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. Needham & Company, LLC and Cantor Fitzgerald & Co. are acting as co-managers for the offering.

Over the last 12 months, GDYN stock dropped by -38.07%. The one-year Grid Dynamics Holdings Inc. stock forecast points to a potential upside of 26.62. The average equity rating for GDYN stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.30 billion, with 67.14 million shares outstanding and 44.04 million shares in the current float. Compared to the average trading volume of 398.39K shares, GDYN stock reached a trading volume of 3477052 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Grid Dynamics Holdings Inc. [GDYN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GDYN shares is $26.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GDYN stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for Grid Dynamics Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 04, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on November 01, 2021, representing the official price target for Grid Dynamics Holdings Inc. stock. Previously, the target price had yet another raise to $25, while JP Morgan analysts kept a Overweight rating on GDYN stock. On May 04, 2021, analysts increased their price target for GDYN shares from 14 to 20.

The Average True Range (ATR) for Grid Dynamics Holdings Inc. is set at 1.22, with the Price to Sales ratio for GDYN stock in the period of the last 12 months amounting to 4.76. The Price to Book ratio for the last quarter was 5.50, with the Price to Cash per share for the same quarter was set at 2.20. Price to Free Cash Flow for GDYN in the course of the last twelve months was 63.16 with Quick ratio for the last quarter at 5.40.

GDYN Stock Performance Analysis:

Grid Dynamics Holdings Inc. [GDYN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.59. With this latest performance, GDYN shares dropped by -3.29% in over the last four-week period, additionally plugging by 68.40% over the last 6 months – not to mention a drop of -38.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GDYN stock in for the last two-week period is set at 43.68, with the RSI for the last a single of trading hit 36.58, and the three-weeks RSI is set at 47.53 for Grid Dynamics Holdings Inc. [GDYN]. The present Moving Average for the last 50 days of trading for this stock 18.94, while it was recorded at 19.89 for the last single week of trading, and 21.31 for the last 200 days.

Insight into Grid Dynamics Holdings Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Grid Dynamics Holdings Inc. [GDYN] shares currently have an operating margin of +0.02 and a Gross Margin at +41.52. Grid Dynamics Holdings Inc.’s Net Margin is presently recorded at -3.64.

Return on Equity for this stock declined to -4.07, with Return on Assets sitting at -3.63.

Grid Dynamics Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.

Grid Dynamics Holdings Inc. [GDYN] Insider Position Details

There are presently around $845 million, or 69.40% of GDYN stock, in the hands of institutional investors. The top three institutional holders of GDYN stocks are: BLACKROCK INC. with ownership of 5,542,451, which is approximately 10.229% of the company’s market cap and around 6.00% of the total institutional ownership; WASATCH ADVISORS INC, holding 4,951,693 shares of the stock with an approximate value of $94.48 million in GDYN stocks shares; and RIVERBRIDGE PARTNERS LLC, currently with $57.27 million in GDYN stock with ownership of nearly -8.066% of the company’s market capitalization.

Positions in Grid Dynamics Holdings Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 103 institutional holders increased their position in Grid Dynamics Holdings Inc. [NASDAQ:GDYN] by around 7,885,222 shares. Additionally, 82 investors decreased positions by around 7,052,212 shares, while 16 investors held positions by with 29,352,256 shares. The mentioned changes placed institutional holdings at 44,289,690 shares, according to the latest SEC report filing. GDYN stock had 43 new institutional investments in for a total of 2,140,848 shares, while 31 institutional investors sold positions of 1,948,577 shares during the same period.


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