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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.60.

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

Grid Dynamics Stock Performance

GDYN stock opened at $16.60 on Wednesday. The company’s 50-day simple moving average is $20.64 and its 200 day simple moving average is $18.24. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $25.50. The company has a market capitalization of $1.39 billion, a PE ratio of 415.00 and a beta of 1.10.

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

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now owns 482,759 shares in the company, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Anil Doradla sold 2,000 shares of the firm’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 transaction of $48,180.00. Following the transaction, the chief financial officer now owns 341,012 shares of the company’s stock, valued at approximately $8,214,979.08. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,306 shares of company stock worth $376,590 in the last quarter. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GDYN. Quest Partners LLC raised its holdings in Grid Dynamics by 35,544.7% during the 3rd quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock worth $235,000 after purchasing an additional 16,706 shares during the last quarter. Intech Investment Management LLC bought a new position in Grid Dynamics during the 3rd quarter worth approximately $153,000. Charles Schwab Investment Management Inc. grew its position in shares of Grid Dynamics by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 464,206 shares of the company’s stock worth $6,499,000 after buying an additional 13,785 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Grid Dynamics during the 3rd quarter worth approximately $122,000. Finally, FMR LLC grew its position in shares of Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares during the period. Institutional investors own 71.18% 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.