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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned an average rating of “Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $18.33.

A number of analysts have recently issued reports on the company. Citigroup lifted their price target on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. TD Cowen boosted their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Needham & Company LLC increased their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th.

Grid Dynamics Trading Down 1.1 %

Shares of Grid Dynamics stock opened at $22.00 on Friday. The firm has a market capitalization of $1.81 billion, a P/E ratio of 733.58 and a beta of 1.06. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $24.16. The business’s fifty day simple moving average is $18.53 and its 200 day simple moving average is $14.90.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.08 EPS. Analysts predict that Grid Dynamics will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.66, for a total value of $52,980.00. Following the completion of the sale, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at $6,715,780.12. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $399,260 in the last 90 days. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares in the last quarter. Quarry LP increased its position in Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after purchasing an additional 2,974 shares during the last quarter. Quantbot Technologies LP bought a new position in Grid Dynamics during the third quarter valued at $122,000. Intech Investment Management LLC purchased a new position in shares of Grid Dynamics in the 3rd quarter worth $153,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Grid Dynamics in the 2nd quarter worth about $117,000. 71.18% of the stock is owned by 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.