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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Five research 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 analysts that have issued a report on the stock in the last year is $18.33.

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC increased their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, December 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 note on Monday, October 28th. Finally, TD Cowen raised their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Grid Dynamics Stock Down 1.1 %

Shares of GDYN opened at $22.00 on Friday. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $24.16. The company has a market cap of $1.81 billion, a PE ratio of 733.58 and a beta of 1.06. The business has a fifty day moving average of $18.53 and a 200 day moving average of $14.90.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The firm had revenue of $87.40 million during the quarter, compared to analysts’ expectations of $85.09 million. During the same period in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, research analysts anticipate that Grid Dynamics will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the transaction, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $17.66, for a total value of $52,980.00. Following the sale, the chief financial officer now owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,000 shares of company stock worth $399,260. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Grid Dynamics by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock worth $235,000 after acquiring an additional 1,184 shares in the last quarter. Trust Point Inc. grew its stake in shares of Grid Dynamics by 5.0% during the third quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after acquiring an additional 1,532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Grid Dynamics by 17.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after purchasing an additional 2,673 shares during the last quarter. Finally, Quarry LP boosted its stake in Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after purchasing an additional 2,974 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

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.