Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Target Price at $19.60

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat.com 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 12-month target price among brokerages that have covered the stock in the last year is $19.60.

Separately, Needham & Company LLC increased their price objective on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now directly owns 343,012 shares in the company, valued at $7,587,425.44. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total value of $33,540.00. Following the completion of the transaction, the chief operating officer now owns 480,759 shares of the company’s stock, valued at approximately $8,062,328.43. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock valued at $376,590 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the business. Loomis Sayles & Co. L P purchased a new position in Grid Dynamics during the 4th quarter valued at about $55,114,000. Vanguard Group Inc. lifted its holdings in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock valued at $123,110,000 after purchasing an additional 1,171,481 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Grid Dynamics in the 4th quarter worth approximately $23,053,000. William Blair Investment Management LLC bought a new stake in shares of Grid Dynamics in the 4th quarter worth approximately $22,192,000. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Grid Dynamics in the 4th quarter worth approximately $20,162,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Stock Down 0.6 %

NASDAQ:GDYN opened at $16.26 on Wednesday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 406.50 and a beta of 1.10. The company has a fifty day moving average of $20.38 and a 200 day moving average of $18.30. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). The firm had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. As a group, analysts anticipate that Grid Dynamics will post 0.18 EPS for the current year.

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.