Grid Dynamics (GDYN) Scheduled to Post Earnings on Thursday

Grid Dynamics (NASDAQ:GDYN) will be posting its quarterly earnings results after the market closes on Thursday, October 31st. Analysts expect Grid Dynamics to post earnings of $0.10 per share for the quarter. Grid Dynamics has set its Q3 2024 guidance at EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. Grid Dynamics’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS.

Grid Dynamics Stock Down 1.3 %

Shares of NASDAQ:GDYN opened at $15.44 on Thursday. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $15.73. The firm’s 50-day simple moving average is $14.15 and its 200-day simple moving average is $11.99. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 514.67 and a beta of 1.06.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GDYN. Needham & Company LLC lifted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a report on Monday, August 5th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $12.00 to $16.00 in a research note on Friday, August 2nd. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Citigroup decreased their target price on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Grid Dynamics currently has a consensus rating of “Buy” and a consensus target price of $15.67.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’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 sale, the chief executive officer now owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was 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 directly owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $12.97, for a total value of $38,910.00. Following the sale, the chief financial officer now directly owns 369,282 shares in the company, valued at approximately $4,789,587.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 961,387 shares of company stock valued at $12,349,914. Insiders own 7.40% of the company’s stock.

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.