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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given an average recommendation of “Buy” by the six brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.67.

Several equities analysts have issued reports on GDYN shares. JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Citigroup lowered their target price on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. TD Cowen raised Grid Dynamics from a “hold” rating to a “buy” rating and increased their price target for the company from $12.00 to $16.00 in a research note on Friday, August 2nd. Finally, Needham & Company LLC lifted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the completion of the sale, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the sale, the chief financial officer now directly owns 369,282 shares in the company, valued at $4,789,587.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 961,387 shares of company stock valued at $12,349,914. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Grid Dynamics

Several hedge funds have recently bought and sold shares of the business. Wasatch Advisors LP lifted its stake in shares of Grid Dynamics by 4.9% in the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after buying an additional 357,785 shares in the last quarter. Vanguard Group Inc. lifted its stake in Grid Dynamics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock valued at $51,643,000 after acquiring an additional 64,300 shares in the last quarter. Jennison Associates LLC boosted its holdings in Grid Dynamics by 1.2% during the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after acquiring an additional 26,974 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after acquiring an additional 396,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after purchasing an additional 206,201 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $15.59 on Friday. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $15.69. The company has a market capitalization of $1.19 billion, a PE ratio of 519.67 and a beta of 1.06. The company has a fifty day moving average of $14.00 and a 200-day moving average of $11.91.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $83.04 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 EPS.

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.