Grid Dynamics Holdings, Inc.

NasdaqCM:GDYN Stock Report

Market Cap: US$1.7b

Grid Dynamics Holdings Valuation

Is GDYN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of GDYN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GDYN ($20.5) is trading above our estimate of fair value ($19.31)

Significantly Below Fair Value: GDYN is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for GDYN?

Key metric: As GDYN is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for GDYN. This is calculated by dividing GDYN's market cap by their current revenue.
What is GDYN's PS Ratio?
PS Ratio5.2x
SalesUS$328.36m
Market CapUS$1.71b

Price to Sales Ratio vs Peers

How does GDYN's PS Ratio compare to its peers?

The above table shows the PS ratio for GDYN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2x
DAVA Endava
1.9x9.6%US$1.8b
CINT CI&T
2.2x15.2%US$822.0m
HCKT Hackett Group
2.8x5.9%US$850.2m
ASGN ASGN
0.9x4.2%US$3.7b
GDYN Grid Dynamics Holdings
5.2x17.0%US$1.7b

Price-To-Sales vs Peers: GDYN is expensive based on its Price-To-Sales Ratio (5.2x) compared to the peer average (2x).

Price to Sales Ratio vs Industry

How does GDYN's PS Ratio compare vs other companies in the US IT Industry?

26 CompaniesPrice / SalesEstimated GrowthMarket Cap
KD Kyndryl Holdings
0.5x1.6%US$8.02b
DXC DXC Technology
0.3x-2.0%US$3.73b
RXT Rackspace Technology
0.2x0.4%US$512.03m
UIS Unisys
0.2x3.4%US$453.63m
GDYN 5.2xIndustry Avg. 2.6xNo. of Companies26PS02.44.87.29.612+
26 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: GDYN is expensive based on its Price-To-Sales Ratio (5.2x) compared to the US IT industry average (2.6x).

Price to Sales Ratio vs Fair Ratio

What is GDYN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

GDYN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio5.2x
Fair PS Ratio2.5x

Price-To-Sales vs Fair Ratio: GDYN is expensive based on its Price-To-Sales Ratio (5.2x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst GDYN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$20.50
US$21.00
+2.4%
13.0%US$25.00US$18.00n/a4
Dec ’25US$18.30
US$19.20
+4.9%
3.9%US$20.00US$18.00n/a5
Nov ’25US$15.24
US$18.00
+18.1%
13.6%US$20.00US$13.00n/a6
Oct ’25US$13.96
US$16.17
+15.8%
9.0%US$17.00US$13.00n/a6
Sep ’25US$13.92
US$16.00
+14.9%
8.8%US$17.00US$13.00n/a7
Aug ’25US$12.25
US$14.64
+19.5%
11.1%US$17.00US$12.00n/a7
Jul ’25US$10.35
US$14.79
+42.9%
10.8%US$17.00US$12.00n/a7
Jun ’25US$9.50
US$14.79
+55.6%
10.8%US$17.00US$12.00n/a7
May ’25US$9.91
US$15.08
+52.2%
10.2%US$17.00US$12.00n/a6
Apr ’25US$11.94
US$15.92
+33.3%
9.0%US$17.00US$13.00n/a6
Mar ’25US$13.18
US$15.42
+17.0%
9.6%US$17.00US$13.00n/a6
Feb ’25US$13.35
US$14.17
+6.1%
8.6%US$16.00US$12.00n/a6
Jan ’25US$13.33
US$13.67
+2.5%
9.1%US$15.00US$11.00n/a6
Dec ’24US$12.57
US$13.50
+7.4%
8.3%US$14.00US$11.00US$18.306
Nov ’24US$10.22
US$13.33
+30.5%
8.3%US$14.00US$11.00US$15.246
Oct ’24US$12.18
US$13.33
+9.5%
8.3%US$14.00US$11.00US$13.966
Sep ’24US$11.79
US$13.33
+13.1%
8.3%US$14.00US$11.00US$13.926
Aug ’24US$10.06
US$13.50
+34.2%
15.3%US$17.00US$11.00US$12.256
Jul ’24US$9.25
US$13.67
+47.7%
13.8%US$17.00US$11.00US$10.356
Jun ’24US$9.40
US$14.33
+52.5%
10.4%US$17.00US$12.00US$9.506
May ’24US$11.41
US$18.33
+60.7%
10.3%US$20.00US$15.00US$9.916
Apr ’24US$11.46
US$18.67
+62.9%
9.6%US$20.00US$15.00US$11.946
Mar ’24US$11.84
US$18.67
+57.7%
9.6%US$20.00US$15.00US$13.186
Feb ’24US$13.24
US$19.17
+44.8%
16.3%US$25.00US$15.00US$13.356
Jan ’24US$11.22
US$19.17
+70.8%
16.3%US$25.00US$15.00US$13.336
Dec ’23US$12.41
US$19.33
+55.8%
15.7%US$25.00US$15.00US$12.576

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 03:44
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Grid Dynamics Holdings, Inc. is covered by 10 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Joseph VafiCanaccord Genuity
Joshua SieglerCantor Fitzgerald & Co.
Ryan PotterCitigroup Inc