GDYN Stock Analysis: Grid Dynamics Holdings | NASDAQ

Artificial Intelligence, Digital Transformation, Cloud Platforms, Product Engineering

Total Rating 54

Safety 82

Buy Signal 0.00

Information Technology Services
Industry Rotation: +3.8

Market Cap: 632M
Avg Turnover: 5.96M

Risk 3d forecast

Volatility49.9%

VaR 5^th Pctl8.04%

VaR vs Median-2.22%

Reward TTM

Sharpe Ratio0.24

Rel. Str. IBD80.4

Rel. Str. Peer Group58.3 pctl

Character TTM

Beta1.378

Beta Downside1.613

Hurst Exponent0.491

Choppyness42.4%

Drawdowns 3y

Max DD78.34%

CAGR/Max DD-0.14

CAGR/Mean DD-0.29

EPS (Earnings per Share)

EPS CAGR: 6.96%
EPS Trend: 47.9%

Last SUE: 4.00
Qual. Beats: 2

Revenue

Rev. CAGR: 14.18%
Rev. Trend: 97.0%

Last SUE: 1.12
Qual. Beats: 1

Warnings

P/E Ratio 259.7

Tailwinds

Confidence

Seasonality 7.9 years of data

Jan +0.6% 6

Feb -3.3% 13

Mar -7.2% 10

Apr -3.7% 21

May -0.5% 9

Jun -8.8% 27

Jul +18.0% 31

Aug +11.0% 43

Sep +1.5% 16

Oct -0.3% 9

Nov +10.3% 39

Dec +3.6% 9

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: GDYN Grid Dynamics Holdings

Grid Dynamics Holdings, Inc. (NASDAQ: GDYN) is a U.S.-based provider of enterprise artificial intelligence and digital transformation services, operating across North America, Europe, and other international markets. The company offers a portfolio that spans AI strategy and readiness consulting, rapid prototyping, software development lifecycle transformation, AI infrastructure and agentic systems, and enterprise-wide AI deployment support.

Beyond AI services, Grid Dynamics delivers cloud platform and product engineering offerings, including composable commerce platforms for digital engagement, IoT and edge computing solutions aimed at physical AI use cases for manufacturers and logistics providers, and AI/data platform development. Its client base spans multiple verticals, including retail, technology, media and telecom, finance, consumer packaged goods and manufacturing, and healthcare and pharma.

The firm was founded in 2006 and is headquartered in San Ramon, California, and began trading on NASDAQ in October 2018. Like other peers in the IT services space, Grid Dynamics operates under a professional services model in which revenue is largely generated through consulting, engineering, and implementation engagements rather than product licensing.

Headlines to Watch Out For

AI services revenue accelerates on enterprise demand
Margin expansion as generative AI bookings scale
Customer concentration risk in retail and tech verticals
International growth in Europe offset by FX headwinds
Capital allocation balanced between buybacks and M&A

Piotroski VR-10 (Strict) 4.0

Net Income: 2.86m TTM > 0 and > 6% of Revenue
FCF/TA: 0.03 > 0.02 and ΔFCF/TA -1.70 > 1.0
NWC/Revenue: 83.64% < 20% (prev 96.16%; Δ -12.53% < -1%)
CFO/TA 0.05 > 3% & CFO 31.4m > Net Income 2.86m
Net Debt (-281.7m) to EBITDA (24.0m): -11.73 < 3
Current Ratio: 7.22 > 1.5 & < 3
Outstanding Shares: last quarter (83.0m) vs 12m ago -3.96% < -2%
Gross Margin: 34.72% > 18% (prev 36.30%; Δ -1.58% > 0.5%)
Asset Turnover: 69.89% > 50% (prev 63.92%; Δ 5.97% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)

Altman Z'' 10.00

A: 0.59 (Total Current Assets 410.3m - Total Current Liabilities 56.9m) / Total Assets 600.4m
B: -0.00 (Retained Earnings -798k / Total Assets 600.4m)
C: -0.00 (EBIT TTM -1.84m / Avg Total Assets 604.6m)
D: 6.46 (Book Value of Equity 519.9m / Total Liabilities 80.4m)
Altman-Z'' = 10.62 = AAA

Beneish M -2.76

DSRI: 1.13 (Receivables 95.6m/77.7m, Revenue 422.6m/389.2m)
GMI: 1.05 (GM 36.30% / 34.72%)
AQI: 1.09 (AQ_t 0.26 / AQ_t-1 0.24)
SGI: 1.09 (Revenue 422.6m / 389.2m)
TATA: -0.05 (NI 2.86m - CFO 31.4m) / TA 600.4m)
Beneish M = -2.76 (Cap -4..+1) = A

What is the price of GDYN shares?

As of October 19, 2026, the stock is trading at USD 7.79 with a total of 634,926 shares traded. Over the past week, the price has changed by -2.01%, over one month by -3.59%, over three months by +34.54% and over the past year by +2.64%.

Current recommended Stop Loss: 7.20 (which is 7.6% or 1.8 ATR below the current price).

Is GDYN a buy, sell or hold?

Grid Dynamics Holdings has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy GDYN.

StrongBuy: 3
Buy: 2
Hold: 1
Sell: 0
StrongSell: 0

What are the forecasts/targets for the GDYN price?

Analysts Target Price	9.4	20.7%

Grid Dynamics Holdings (GDYN) - Fundamental Data Overview as of 18 October 2026

Market Cap USD = 632.0m (632.0m USD * 1.0 USD.USD)
P/E Trailing = 259.6667
P/E Forward = 131.5789
P/S = 1.4955
P/B = 1.2015
Revenue TTM = 422.6m USD
EBIT TTM = -1.84m USD
EBITDA TTM = 24.0m USD
Long Term Debt = 11.2m USD (estimated: total debt 16.7m - short term 5.50m)
Short Term Debt = 5.50m USD (from shortTermDebt, last quarter)
Debt = 16.7m USD (from shortLongTermDebtTotal, last quarter) (leases 16.7m already included)
Net Debt = -281.7m USD (calculated: Debt 16.7m - CCE 298.4m)
Enterprise Value = 350.3m USD (632.0m + Debt 16.7m - CCE 298.4m)
Interest Coverage Ratio = unknown (Ebit TTM -1.84m / Interest Expense TTM 0.0)
EV/FCF = 21.89x (Enterprise Value 350.3m / FCF TTM 16.0m)
FCF Yield = 4.57% (FCF TTM 16.0m / Enterprise Value 350.3m)
FCF Margin = 3.79% (FCF TTM 16.0m / Revenue TTM 422.6m)
Net Margin = 0.68% (Net Income TTM 2.86m / Revenue TTM 422.6m)
Gross Margin = 34.72% ((Revenue TTM 422.6m - Cost of Revenue TTM 275.9m) / Revenue TTM)
Gross Margin QoQ = 36.63% (prev 34.80%)
Tobins Q-Ratio = 0.58 (Enterprise Value 350.3m / Total Assets 600.4m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 16.7m)
Taxrate = 36.10% (1.61m / 4.46m)
NOPAT = -1.18m (EBIT -1.84m * (1 - 36.10%)) [loss with tax shield]
Current Ratio = 7.22 (Total Current Assets 410.3m / Total Current Liabilities 56.9m)
Debt / Equity = 0.03 (Debt 16.7m / totalStockholderEquity, last quarter 519.9m)
Debt / EBITDA = -11.73 (Net Debt -281.7m / EBITDA 24.0m)
Debt / FCF = -17.61 (Net Debt -281.7m / FCF TTM 16.0m)
Total Stockholder Equity = 532.5m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.47% (Net Income 2.86m / Total Assets 600.4m)
RoE = 0.54% (Net Income TTM 2.86m / Total Stockholder Equity 532.5m)
RoCE = -0.34% (EBIT -1.84m / Capital Employed (Equity 532.5m + L.T.Debt 11.2m))
RoIC = -0.22% (negative operating profit) (NOPAT -1.18m / Invested Capital 527.9m)
WACC = 10.00% (E(632.0m)/V(648.7m) * Re(10.26%) + D(16.7m)/V(648.7m) * Rd(0.0%) * (1-Tc(0.36)))
Discount Rate = 10.26% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 69.43 | Cagr: 3.92%
[DCF] Terminal Value 67.20% ; FCFF base≈20.2m ; Y1≈17.7m ; Y5≈14.3m
[DCF] Fair Price = 5.71 (EV 181.2m - Net Debt -281.7m = Equity 462.9m / Shares 81.1m; r=10.00% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 47.95 | EPS CAGR: 6.96% | SUE: 4.0 | # QB: 2
Revenue Correlation: 96.98 | Revenue CAGR: 14.18% | SUE: 1.12 | # QB: 1
EPS current Quarter (2026-09-30): EPS=0.13 | Chg30d=+0.00% | Revisions=+29% | Analysts=5
EPS current Year (2026-12-31): EPS=0.47 | Chg30d=+0.00% | Revisions=-29% | GrowthEPS=+16.4% | GrowthRev=+6.4%
EPS next Year (2027-12-31): EPS=0.52 | Chg30d=-0.32% | Revisions=-38% | GrowthEPS=+12.7% | GrowthRev=+8.7%
[Analyst] Revisions Ratio: -19% (up=5, down=8)