Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $19.60 Consensus PT from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $19.60.

Separately, Needham & Company LLC increased their price target on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $24.09, for a total transaction of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares of the company’s stock, valued at $8,214,979.08. This trade represents a 0.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Yury Gryzlov sold 10,306 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now directly owns 482,759 shares in the company, valued at approximately $9,008,282.94. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock worth $376,590 in the last quarter. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of Grid Dynamics by 5.2% in the fourth quarter. California State Teachers Retirement System now owns 57,063 shares of the company’s stock valued at $1,269,000 after purchasing an additional 2,820 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Grid Dynamics in the fourth quarter valued at $3,249,000. Castleark Management LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at $5,804,000. PharVision Advisers LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at $214,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Grid Dynamics by 7.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,913 shares of the company’s stock valued at $2,667,000 after purchasing an additional 8,116 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $16.26 on Wednesday. The company has a market cap of $1.36 billion, a PE ratio of 406.50 and a beta of 1.10. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $25.50. The firm has a 50 day simple moving average of $20.38 and a 200 day simple moving average of $18.23.

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

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.