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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given a consensus rating of “Buy” by the six ratings firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.60.

Separately, Needham & Company LLC upped their target price on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 21st.

Grid Dynamics Trading Up 0.1 %

NASDAQ:GDYN opened at $13.53 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 338.25 and a beta of 0.99. Grid Dynamics has a 12-month low of $9.07 and a 12-month high of $25.50. The stock has a 50-day moving average price of $18.13 and a 200 day moving average price of $18.36.

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

Insider Buying and Selling

In related news, CFO Anil Doradla sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $24.09, for a total value of $48,180.00. Following the completion of the sale, the chief financial officer now owns 341,012 shares in the company, valued at approximately $8,214,979.08. The trade was a 0.58 % 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. Also, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total value of $192,309.96. Following the transaction, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,043 shares of company stock valued at $349,078. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics in the fourth quarter worth $25,000. Global Retirement Partners LLC purchased a new position in shares of Grid Dynamics during the fourth quarter worth $27,000. MCF Advisors LLC raised its stake in shares of Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after buying an additional 740 shares during the last quarter. FMR LLC lifted its holdings in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after acquiring an additional 801 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in shares of Grid Dynamics in the 4th quarter valued at $70,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

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.