Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $19.60 Consensus Target Price from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given a consensus rating of “Buy” by the six analysts that are currently covering the company, Marketbeat 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 twelve-month price target among brokers that have updated their coverage on the stock in the last year is $19.60.

Separately, Needham & Company LLC lifted their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st.

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. The firm’s 50 day moving average price is $20.38 and its 200-day moving average price is $18.30. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last issued its 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). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. On average, analysts forecast that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the sale, the chief financial officer now owns 343,012 shares in the company, valued at approximately $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total value of $33,540.00. Following the completion of the transaction, the chief operating officer now directly owns 480,759 shares in the company, valued at approximately $8,062,328.43. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,306 shares of company stock worth $376,590. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GDYN. Quest Partners LLC raised its position in Grid Dynamics by 35,544.7% in the third quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock worth $235,000 after acquiring an additional 16,706 shares during the period. Intech Investment Management LLC bought a new position in Grid Dynamics in the 3rd quarter worth $153,000. Charles Schwab Investment Management Inc. lifted its position in Grid Dynamics by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock valued at $6,499,000 after purchasing an additional 13,785 shares in the last quarter. Quantbot Technologies LP bought a new stake in Grid Dynamics during the third quarter valued at about $122,000. Finally, FMR LLC increased its position in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares in the last quarter. Hedge funds and other 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.