Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $15.20 Average Price Target from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus rating of “Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $15.20.

GDYN has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Grid Dynamics in a report on Friday, May 3rd. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Grid Dynamics in a report on Thursday, May 23rd. Citigroup lowered their target price on shares of Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. lowered their target price on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald raised their target price on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 11,884 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $12.03, for a total transaction of $142,964.52. Following the transaction, the chief executive officer now owns 3,688,807 shares of the company’s stock, valued at approximately $44,376,348.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Grid Dynamics news, CEO Leonard Livschitz sold 11,884 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $12.03, for a total transaction of $142,964.52. Following the transaction, the chief executive officer now owns 3,688,807 shares of the company’s stock, valued at approximately $44,376,348.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $30,000.00. Following the transaction, the chief financial officer now directly owns 385,979 shares in the company, valued at approximately $3,859,790. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,884 shares of company stock valued at $824,175. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System grew its position in shares of Grid Dynamics by 5.3% in the 4th quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock worth $225,000 after buying an additional 855 shares during the last quarter. American Trust grew its position in shares of Grid Dynamics by 10.1% in the 3rd quarter. American Trust now owns 12,963 shares of the company’s stock worth $158,000 after buying an additional 1,186 shares during the last quarter. Swiss National Bank grew its position in shares of Grid Dynamics by 1.1% in the 3rd quarter. Swiss National Bank now owns 123,500 shares of the company’s stock worth $1,504,000 after buying an additional 1,300 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Grid Dynamics in the 4th quarter worth approximately $26,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Grid Dynamics by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock worth $314,000 after buying an additional 1,985 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Stock Down 0.9 %

GDYN stock opened at $9.54 on Monday. Grid Dynamics has a 52 week low of $8.76 and a 52 week high of $14.70. The company has a fifty day simple moving average of $10.07 and a two-hundred day simple moving average of $11.97. The firm has a market capitalization of $730.00 million, a P/E ratio of 318.11 and a beta of 1.02.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The business had revenue of $79.82 million for the quarter, compared to the consensus estimate of $77.48 million. As a group, analysts anticipate that Grid Dynamics will post 0.03 EPS for the current year.

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.