Grid Dynamics (GDYN) to Release Quarterly Earnings on Thursday

Grid Dynamics (NASDAQ:GDYN) is scheduled to announce its earnings results after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Grid Dynamics has set its Q3 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The business had revenue of $83.04 million during 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 company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share.

Grid Dynamics Trading Down 1.3 %

GDYN stock opened at $15.44 on Thursday. The business’s fifty day moving average price is $14.15 and its 200 day moving average price is $11.99. Grid Dynamics has a 12-month low of $9.07 and a 12-month high of $15.73. The company has a market capitalization of $1.18 billion, a PE ratio of 514.67 and a beta of 1.06.

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of the 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 transaction, the chief financial officer now owns 369,282 shares of the company’s stock, valued at $4,789,587.54. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the transaction, the insider now owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $38,910.00. Following the sale, the chief financial officer now owns 369,282 shares in the company, valued at $4,789,587.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 961,387 shares of company stock worth $12,349,914. 7.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on GDYN shares. Citigroup reduced their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $12.00 to $16.00 in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.67.

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.