Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $18.33 Average PT from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.33.

GDYN has been the topic of several recent research reports. TD Cowen increased their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Needham & Company LLC upped their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th.

Grid Dynamics Trading Down 0.4 %

Shares of GDYN stock opened at $21.91 on Friday. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $24.16. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 730.58 and a beta of 1.06. The stock has a 50-day moving average of $18.79 and a 200-day moving average of $15.11.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. Grid Dynamics’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts forecast that Grid Dynamics will post 0.03 earnings per share for the current year.

Insider Activity at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the completion of the transaction, the chief financial officer now directly owns 373,282 shares of the company’s stock, valued at $7,122,220.56. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,000 shares of company stock worth $399,260. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of Grid Dynamics by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,095 shares of the company’s stock valued at $2,523,000 after buying an additional 20,989 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Grid Dynamics by 17.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after purchasing an additional 2,673 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Grid Dynamics by 11.2% during the second quarter. Principal Financial Group Inc. now owns 41,044 shares of the company’s stock valued at $431,000 after purchasing an additional 4,134 shares during the period. Rhumbline Advisers grew its holdings in shares of Grid Dynamics by 5.2% in the second quarter. Rhumbline Advisers now owns 82,323 shares of the company’s stock worth $865,000 after purchasing an additional 4,072 shares during the last quarter. Finally, Summit Creek Advisors LLC raised its holdings in Grid Dynamics by 25.1% during the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after buying an additional 230,688 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides technology consulting, platform and product engineering, and analytics services in North America, Europe, and internationally. It offers cloud platform and product engineering services, such as architecting, designing, and building scalable and secure cloud-based platforms and business applications; and AI/machine learning and data platform engineering services that build platforms to facilitate batch and streaming data ingestion, quality governance, orchestration, semantic modeling, observability, and analysis at scale.