Northland Securities Raises Grid Dynamics (NASDAQ:GDYN) Price Target to $25.00

Grid Dynamics (NASDAQ:GDYN – Get Rating) had its price objective hoisted by Northland Securities from $22.50 to $25.00 in a report released on Monday, The Fly reports. Northland Securities’ price objective suggests a potential upside of 43.76% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup upped their target price on shares of Grid Dynamics from $20.00 to $23.00 in a research note on Friday. Needham & Company LLC increased their price target on shares of Grid Dynamics from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. TheStreet cut shares of Grid Dynamics from a “c-” rating to a “d+” rating in a research note on Wednesday, March 2nd. Cowen cut shares of Grid Dynamics from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $37.00 to $16.00 in a research note on Thursday, February 24th. Finally, Cantor Fitzgerald decreased their price target on shares of Grid Dynamics from $40.00 to $25.00 in a research note on Friday, February 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.13.

GDYN stock opened at $17.39 on Monday. The firm has a market cap of $1.16 billion, a PE ratio of -133.77 and a beta of 1.04. Grid Dynamics has a 1 year low of $9.09 and a 1 year high of $42.81. The company has a fifty day simple moving average of $13.17 and a 200 day simple moving average of $25.09.

Grid Dynamics (NASDAQ:GDYN – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The business had revenue of $71.41 million during the quarter, compared to analyst estimates of $65.07 million. Grid Dynamics had a negative net margin of 3.41% and a positive return on equity of 13.03%. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 earnings per share. Sell-side analysts anticipate that Grid Dynamics will post 0.25 earnings per share for the current fiscal year.

In other news, Director Eric Benhamou bought 23,500 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were bought at an average cost of $10.88 per share, for a total transaction of $255,680.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.80% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in shares of 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 acquiring an additional 472 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Grid Dynamics in the fourth quarter valued at $40,000. Rockefeller Capital Management L.P. bought a new position in Grid Dynamics in the third quarter valued at $39,000. Syquant Capital Sas bought a new position in Grid Dynamics in the fourth quarter valued at $80,000. Finally, Hardy Reed LLC bought a new position in Grid Dynamics in the first quarter valued at $70,000. 65.42% of the stock is owned by institutional investors.

About Grid Dynamics (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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