Grid Dynamics (NASDAQ:GDYN) Stock Lifted to Buy by Wall Street Zen

Wall Street Zen upgraded shares of Grid Dynamics (NASDAQ:GDYN) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. TD Cowen upped their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Needham & Company LLC raised their price target on Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research report on Thursday, October 29th. JPMorgan Chase & Co. upped their price objective on Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Finally, Zacks Research lowered Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.80.

Grid Dynamics Price Performance

Shares of NASDAQ:GDYN opened at $13.10 on Friday. Grid Dynamics has a 1-year low of $5.11 and a 1-year high of $14.02. The company has a market capitalization of $1.06 billion, a P/E ratio of 145.56 and a beta of 0.88. The firm’s 50 day simple moving average is $8.68 and its two-hundred day simple moving average is $7.10.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $114.29 million during the quarter, compared to analysts’ expectations of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. On average, sell-side analysts anticipate that Grid Dynamics will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, COO Yury Gryzlov sold 10,512 shares of the firm’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $110,481.12. Following the completion of the transaction, the chief operating officer directly owned 484,778 shares of the company’s stock, valued at approximately $5,095,016.78. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anil Doradla sold 20,000 shares of Grid Dynamics stock in a transaction on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the completion of the sale, the chief financial officer owned 374,509 shares in the company, valued at approximately $3,936,089.59. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 49,636 shares of company stock worth $500,195 in the last three months. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors have recently added to or reduced their stakes in GDYN. Bank of America Corp DE raised its holdings in shares of Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock worth $2,077,000 after buying an additional 157,767 shares during the period. Pacer Advisors Inc. bought a new position in Grid Dynamics in the 1st quarter valued at $884,000. Walleye Capital LLC bought a new position in Grid Dynamics in the 1st quarter valued at $1,007,000. Quantinno Capital Management LP grew its position in Grid Dynamics by 460.4% in the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after acquiring an additional 169,477 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Grid Dynamics in the second quarter worth $2,702,000. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.