Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $19.17 Average Target Price from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned an average rating of “Buy” from the six analysts that are presently covering the company, MarketBeat.com 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 12 month target price among brokers that have covered the stock in the last year is $19.17.

GDYN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Finally, TD Cowen lifted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

Grid Dynamics Trading Down 6.9 %

Shares of GDYN opened at $19.90 on Friday. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $25.50. The stock’s 50 day moving average is $21.65 and its two-hundred day moving average is $17.72. The firm has a market capitalization of $1.64 billion, a PE ratio of 497.50 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. On average, sell-side analysts predict that Grid Dynamics will post 0.18 EPS for the current year.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at $7,587,425.44. The trade was a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 8,000 shares of company stock worth $171,780 in the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Castleark Management LLC acquired a new position in shares of Grid Dynamics during the 4th quarter worth approximately $5,804,000. PharVision Advisers LLC purchased a new stake in Grid Dynamics in the 4th quarter worth approximately $214,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Grid Dynamics by 7.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,913 shares of the company’s stock worth $2,667,000 after acquiring an additional 8,116 shares during the period. Two Sigma Investments LP purchased a new stake in Grid Dynamics in the 4th quarter worth approximately $1,219,000. Finally, State of Wyoming grew its stake in Grid Dynamics by 4.1% in the 4th quarter. State of Wyoming now owns 26,495 shares of the company’s stock worth $589,000 after acquiring an additional 1,046 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.