Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Target Price at $18.33

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.33.

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

Grid Dynamics Stock Up 4.9 %

Shares of NASDAQ GDYN opened at $22.57 on Tuesday. The business has a 50-day moving average price of $20.35 and a 200 day moving average price of $16.44. The stock has a market cap of $1.86 billion, a PE ratio of 752.58 and a beta of 1.01. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $24.16.

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

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00. Following the completion of the transaction, the chief financial officer now owns 376,282 shares in the company, valued at approximately $6,645,140.12. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 10,000 shares of company stock valued at $194,240. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new stake in shares of Grid Dynamics in the third quarter valued at $8,589,000. Vontobel Holding Ltd. purchased a new stake in Grid Dynamics in the 3rd quarter worth about $1,143,000. Barclays PLC lifted its stake in Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock worth $1,556,000 after acquiring an additional 70,579 shares in the last quarter. Wellington Management Group LLP boosted its position in Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after acquiring an additional 675,419 shares during the period. Finally, Geode Capital Management LLC grew its stake in Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock valued at $19,344,000 after acquiring an additional 17,763 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

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.