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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating) have earned an average recommendation of “Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.43.

Several brokerages recently weighed in on GDYN. TheStreet lowered Grid Dynamics from a “c-” rating to a “d+” rating in a research note on Wednesday, March 2nd. Cowen lowered Grid Dynamics from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $37.00 to $16.00 in a research report on Thursday, February 24th. Needham & Company LLC boosted their price target on shares of Grid Dynamics from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, April 7th. Citigroup raised their price target on shares of Grid Dynamics from $20.00 to $23.00 in a research note on Friday, May 6th. Finally, Northland Securities increased their target price on Grid Dynamics from $22.50 to $25.00 in a report on Monday, May 9th.

Shares of GDYN stock traded down $0.90 on Friday, hitting $18.61. The company had a trading volume of 544,953 shares, compared to its average volume of 674,320. Grid Dynamics has a twelve month low of $9.09 and a twelve month high of $42.81. The company has a quick ratio of 6.32, a current ratio of 6.32 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.25 billion, a P/E ratio of -143.15 and a beta of 1.02. The company has a 50-day moving average price of $15.60 and a 200-day moving average price of $23.04.

Grid Dynamics (NASDAQ:GDYN – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate 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 business had revenue of $71.41 million for the quarter, compared to analyst estimates of $65.07 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. Equities research analysts expect that Grid Dynamics will post 0.29 EPS for the current year.

In other Grid Dynamics news, Director Eric Benhamou acquired 23,500 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was bought at an average cost of $10.88 per share, for a total transaction of $255,680.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Nicolet bought 10,000 shares of Grid Dynamics stock in a transaction on Thursday, May 12th. The stock was acquired at an average price of $16.42 per share, for a total transaction of $164,200.00. Following the transaction, the director now directly owns 14,290 shares of the company’s stock, valued at $234,641.80. The disclosure for this purchase can be found here. Company insiders own 11.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. raised its holdings in shares of Grid Dynamics by 120.8% in the 1st quarter. Meeder Asset Management Inc. now owns 2,422 shares of the company’s stock valued at $34,000 after buying an additional 1,325 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Grid Dynamics in the 3rd quarter valued at $39,000. Point72 Hong Kong Ltd purchased a new stake in shares of Grid Dynamics during the 4th 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 purchased a new position in Grid Dynamics in the fourth quarter valued at $80,000. 65.42% of the stock is currently owned by 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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