Grid Dynamics Holdings (NASDAQ:GDYN) Expected to Post Earnings of -$0.06 Per Share

Equities analysts expect Grid Dynamics Holdings (NASDAQ:GDYN) to post earnings per share (EPS) of ($0.06) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Grid Dynamics’ earnings. The lowest EPS estimate is ($0.07) and the highest is ($0.05). Grid Dynamics posted earnings of $0.05 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 220%. The company is scheduled to report its next quarterly earnings results on Wednesday, August 12th.

On average, analysts expect that Grid Dynamics will report full-year earnings of ($0.03) per share for the current fiscal year, with EPS estimates ranging from ($0.07) to $0.01. For the next fiscal year, analysts anticipate that the firm will report earnings of $0.28 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Grid Dynamics.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The business had revenue of $32.46 million during the quarter, compared to analyst estimates of $31.25 million.

GDYN has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Grid Dynamics from a “hold” rating to a “sell” rating in a report on Friday. William Blair initiated coverage on shares of Grid Dynamics in a report on Wednesday, April 8th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Grid Dynamics in a research note on Tuesday, May 12th. Loop Capital raised their target price on Grid Dynamics from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC started coverage on Grid Dynamics in a research note on Thursday. They issued a “buy” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $34.67.

Hedge funds have recently modified their holdings of the business. Morgan Stanley bought a new position in Grid Dynamics in the 1st quarter worth about $36,000. Citigroup Inc. bought a new stake in shares of Grid Dynamics during the first quarter valued at about $63,000. Wade G W & Inc. purchased a new stake in shares of Grid Dynamics in the first quarter worth about $80,000. CNA Financial Corp bought a new position in shares of Grid Dynamics in the first quarter valued at approximately $108,000. Finally, Yakira Capital Management Inc. purchased a new position in Grid Dynamics during the first quarter valued at approximately $248,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:GDYN traded down $0.56 during midday trading on Friday, reaching $6.44. The company had a trading volume of 3,269,648 shares, compared to its average volume of 547,468. The stock has a 50 day simple moving average of $8.45. Grid Dynamics has a 52-week low of $4.61 and a 52-week high of $13.51.

About Grid Dynamics

Grid Dynamics International, Inc is an engineering IT services company, provides transformative and mission-critical cloud solutions for retail, finance, and technology sectors. It offers big data engineering services, including consulting, design, implementation, and operational support of in-stream and batch processing pipelines; QA automation services, including UI, API, mobile, performance, batch processing, technical computing, regression, continuous, and integration testing services; test data and test environment management; quality KPI definition and tracking; test automation framework development; and best practices and toolset workshops; cloud engineering; UI/full stack engineering; release engineering / DevOps; and search engine and mobile application development services.

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