Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Recommendation of “Buy” from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given an average recommendation of “Buy” by the six brokerages that are presently covering the company, 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 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of research analysts recently issued reports on the stock. TD Cowen boosted their target price 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. Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Citigroup boosted their target price 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 boosted their target price on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th.

Insiders Place Their Bets

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now owns 3,475,901 shares in the company, valued at approximately $47,724,120.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the transaction, the insider now owns 13,889,183 shares in the company, valued at $177,781,542.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the transaction, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 950,387 shares of company stock worth $12,239,324. Company insiders own 7.40% of the company’s stock.

Institutional Trading of Grid Dynamics

Several large investors have recently bought and sold shares of GDYN. Fourth Sail Capital LP grew its stake in Grid Dynamics by 138.0% during the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after acquiring an additional 446,477 shares in the last quarter. Summit Creek Advisors LLC grew its stake in Grid Dynamics by 25.1% during the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after acquiring an additional 230,688 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after acquiring an additional 206,201 shares in the last quarter. Silvercrest Asset Management Group LLC grew its stake in Grid Dynamics by 43.1% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock valued at $7,429,000 after acquiring an additional 182,052 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Grid Dynamics by 42.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after acquiring an additional 142,446 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

Shares of GDYN opened at $18.08 on Thursday. The firm has a market capitalization of $1.39 billion, a PE ratio of 602.87 and a beta of 1.04. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $19.86. The company’s fifty day moving average price is $14.99 and its 200-day moving average price is $12.59.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating 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 net margin of 0.74% and a return on equity of 0.15%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 earnings per share.

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.