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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $15.67.

GDYN has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Citigroup decreased their price target on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Needham & Company LLC raised their price target on Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th. Finally, TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $13.80 on Wednesday. The business’s 50 day simple moving average is $13.30 and its 200 day simple moving average is $11.63. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $14.70. The firm has a market cap of $1.06 billion, a PE ratio of 460.00 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. As a group, equities research analysts predict that Grid Dynamics will post 0.02 EPS for the current year.

Insider Transactions at Grid Dynamics

In related news, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00. Following the completion of the sale, the chief executive officer now directly owns 3,565,901 shares of the company’s stock, valued at approximately $37,014,052.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $10.38, for a total transaction of $103,800.00. Following the completion of the sale, the chief executive officer now directly owns 3,565,901 shares of the company’s stock, valued at approximately $37,014,052.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $10.43, for a total value of $31,290.00. Following the sale, the chief financial officer now directly owns 372,282 shares of the company’s stock, valued at $3,882,901.26. The disclosure for this sale can be found here. In the last three months, insiders sold 954,387 shares of company stock worth $12,176,954. 7.40% of the stock is owned by company insiders.

Institutional Trading of Grid Dynamics

Several hedge funds have recently added to or reduced their stakes in GDYN. Fourth Sail Capital LP lifted its holdings in Grid Dynamics by 138.0% during the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock worth $8,092,000 after purchasing an additional 446,477 shares during the last quarter. Wellington Management Group LLP raised its holdings in Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after acquiring an additional 396,320 shares in the last quarter. Wasatch Advisors LP raised its holdings in Grid Dynamics by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after acquiring an additional 357,785 shares in the last quarter. Summit Creek Advisors LLC raised its holdings in Grid Dynamics by 25.1% in 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. Finally, Dimensional Fund Advisors LP raised its holdings in Grid Dynamics by 14.1% in 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. 71.18% of the stock is owned by institutional investors and hedge funds.

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.