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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned an average rating 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 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.33.

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

Grid Dynamics Trading Down 1.7 %

Grid Dynamics stock opened at $19.12 on Monday. The stock has a 50-day moving average price of $17.02 and a two-hundred day moving average price of $13.84. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $20.34. The company has a market capitalization of $1.58 billion, a PE ratio of 637.33 and a beta of 1.06.

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

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction dated 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 directly owns 380,282 shares in the company, valued at approximately $6,715,780.12. The trade was a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total transaction of $218,400.00. Following the sale, the chief executive officer now directly owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. This trade represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $605,210 in the last quarter. Insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares during the period. Quarry LP raised its holdings in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $117,000. Quantbot Technologies LP purchased a new position in shares of Grid Dynamics during the third quarter worth about $122,000. Finally, XTX Topco Ltd bought a new position in shares of Grid Dynamics in the second quarter worth approximately $129,000. 71.18% of the stock is currently owned by hedge funds and other 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.