$65.18 Million in Sales Expected for Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) This Quarter

Equities research analysts predict that Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) will report sales of $65.18 million for the current quarter, Zacks reports. Two analysts have provided estimates for Grid Dynamics’ earnings, with the highest sales estimate coming in at $65.36 million and the lowest estimate coming in at $65.00 million. Grid Dynamics reported sales of $39.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 66.6%. The firm is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Grid Dynamics will report full year sales of $255.04 million for the current fiscal year, with estimates ranging from $230.00 million to $271.51 million. For the next year, analysts expect that the company will report sales of $333.51 million, with estimates ranging from $329.80 million to $337.21 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Grid Dynamics.

Grid Dynamics (NASDAQ:GDYN – Get Rating) last announced its quarterly earnings results on Thursday, March 3rd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a negative net margin of 3.64% and a positive return on equity of 12.30%. The company had revenue of $66.54 million for the quarter, compared to analyst estimates of $58.79 million. During the same quarter last year, the business earned $0.04 earnings per share. Grid Dynamics’s revenue was up 120.9% compared to the same quarter last year.

Several research analysts have issued reports on GDYN shares. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Cowen lowered shares of Grid Dynamics from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $37.00 to $16.00 in a research report on Thursday, February 24th. Citigroup lifted their price target on shares of Grid Dynamics from $16.00 to $20.00 in a research report on Wednesday, April 20th. Northland Securities decreased their price objective on shares of Grid Dynamics from $40.00 to $22.50 and set an “outperform” rating for the company in a research note on Friday, March 4th. Finally, TheStreet lowered shares of Grid Dynamics from a “c-” rating to a “d+” rating in a research note on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $22.44.

NASDAQ GDYN opened at $14.87 on Tuesday. Grid Dynamics has a 12 month low of $9.09 and a 12 month high of $42.81. The firm has a market capitalization of $994.07 million, a PE ratio of -114.38 and a beta of 1.11. The company’s 50 day simple moving average is $13.63 and its 200 day simple moving average is $26.05.

In related news, Director Eric Benhamou acquired 23,500 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was acquired at an average price of $10.88 per share, with a total value of $255,680.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stan Klimoff sold 4,000 shares of the company’s stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $25.34, for a total transaction of $101,360.00. The disclosure for this sale can be found here. Corporate insiders own 11.80% of the company’s stock.

A number of large investors have recently bought and sold shares of GDYN. First Horizon Advisors Inc. grew its stake in Grid Dynamics by 120.4% during the third quarter. First Horizon Advisors Inc. now owns 864 shares of the company’s stock worth $27,000 after buying an additional 472 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Grid Dynamics during the third quarter worth about $39,000. Point72 Hong Kong Ltd bought a new stake in Grid Dynamics during the fourth quarter worth about $40,000. Syquant Capital Sas bought a new stake in Grid Dynamics during the fourth quarter worth about $80,000. Finally, Royal Bank of Canada grew its stake in Grid Dynamics by 212.7% during the second quarter. Royal Bank of Canada now owns 7,186 shares of the company’s stock worth $108,000 after buying an additional 4,888 shares during the last quarter. 67.15% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Company Profile (Get Rating)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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