Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Target Price at $15.67

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.67.

A number of analysts have issued reports on the company. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC raised their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $16.00 in a research report on Friday, August 2nd. Finally, Citigroup reduced their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 12th.

Grid Dynamics Price Performance

GDYN opened at $15.65 on Friday. The company has a market capitalization of $1.20 billion, a PE ratio of 521.67 and a beta of 1.06. The business has a 50-day moving average of $14.10 and a 200-day moving average of $11.96. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $15.73.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $83.04 million for the quarter, compared to analyst estimates of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS.

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was 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 in the company, valued at $50,390,718.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the transaction, the chief financial officer now owns 369,282 shares in the company, valued at approximately $4,789,587.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value 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 approximately $50,390,718.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 961,387 shares of company stock worth $12,349,914 in the last 90 days. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP raised its position in Grid Dynamics by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after purchasing an additional 357,785 shares during the last quarter. Vanguard Group Inc. raised its position in Grid Dynamics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after purchasing an additional 64,300 shares during the last quarter. Jennison Associates LLC raised its position in Grid Dynamics by 1.2% in the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock valued at $28,748,000 after purchasing an additional 26,974 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after buying an additional 396,320 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Grid Dynamics by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after acquiring an additional 206,201 shares during 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.