Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Recommendation 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 currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $18.33.

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

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at approximately $6,645,140.12. This represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 13,000 shares of company stock worth $247,220. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Grid Dynamics

Institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares in the last quarter. Quarry LP raised its stake in shares of 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. Hsbc Holdings PLC purchased a new position in shares of Grid Dynamics in the second quarter worth $117,000. Finally, Quantbot Technologies LP bought a new position in shares of Grid Dynamics during the third quarter valued at $122,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Price Performance

GDYN opened at $21.28 on Tuesday. Grid Dynamics has a one year low of $9.07 and a one year high of $24.16. The business has a 50 day simple moving average of $20.05 and a two-hundred day simple moving average of $16.25. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 709.40 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The firm’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, sell-side analysts expect that Grid Dynamics will post 0.03 EPS for the current fiscal year.

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.