Grid Dynamics (GDYN) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Grid Dynamics (NASDAQ: GDYN) in the last few weeks:

  • 5/13/2022 – Grid Dynamics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Grid Dynamics International Inc. engages in architecting and delivering digital transformation programs principally in the retail, technology and financial sectors. Grid Dynamics International Inc., formerly known as ChaSerg Technology Acquisition Corp, is based in Calif., United States. “
  • 5/11/2022 – Grid Dynamics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target on the stock. According to Zacks, “Grid Dynamics International Inc. engages in architecting and delivering digital transformation programs principally in the retail, technology and financial sectors. Grid Dynamics International Inc., formerly known as ChaSerg Technology Acquisition Corp, is based in Calif., United States. “
  • 5/9/2022 – Grid Dynamics had its price target raised by analysts at Northland Securities from $22.50 to $25.00.
  • 5/6/2022 – Grid Dynamics had its price target raised by analysts at Citigroup Inc. from $20.00 to $23.00.
  • 4/20/2022 – Grid Dynamics had its price target raised by analysts at Citigroup Inc. from $16.00 to $20.00.
  • 4/7/2022 – Grid Dynamics had its price target raised by analysts at Needham & Company LLC from $22.00 to $25.00. They now have a “buy” rating on the stock.

GDYN traded up $0.03 during trading hours on Tuesday, reaching $16.78. The company’s stock had a trading volume of 40,035 shares, compared to its average volume of 963,993. Grid Dynamics Holdings, Inc. has a 52 week low of $9.09 and a 52 week high of $42.81. The company’s 50-day moving average is $14.49 and its 200-day moving average is $24.07. The company has a debt-to-equity ratio of 0.02, a quick ratio of 7.61 and a current ratio of 6.32. The firm has a market cap of $1.13 billion, a PE ratio of -129.08 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Grid Dynamics had a positive return on equity of 12.79% and a negative net margin of 3.41%. The company had revenue of $71.41 million during the quarter, compared to the consensus estimate of $65.07 million. During the same quarter last year, the firm earned $0.05 earnings per share. The company’s revenue was up 82.5% on a year-over-year basis. Equities analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.29 earnings per share for the current fiscal year.

In related news, Director Patrick Nicolet purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average cost of $16.42 per share, for a total transaction of $164,200.00. Following the completion of the purchase, the director now owns 14,290 shares in the company, valued at approximately $234,641.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Benhamou purchased 23,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The stock was bought at an average price of $10.88 per share, with a total value of $255,680.00. The disclosure for this purchase can be found here. 11.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. lifted its stake in Grid Dynamics by 120.8% during the first quarter. Meeder Asset Management Inc. now owns 2,422 shares of the company’s stock worth $34,000 after purchasing an additional 1,325 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Grid Dynamics during the third quarter worth $39,000. Point72 Hong Kong Ltd acquired a new position in shares of Grid Dynamics during the fourth quarter worth $40,000. Hardy Reed LLC acquired a new position in shares of Grid Dynamics during the first quarter worth $70,000. Finally, Syquant Capital Sas acquired a new position in shares of Grid Dynamics during the fourth quarter worth $80,000. Hedge funds and other institutional investors own 65.42% of the company’s stock.

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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