Grid Dynamics (NASDAQ:GDYN) Price Target Cut to $15.00

Grid Dynamics (NASDAQ:GDYN) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $17.00 to $15.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 48.96% from the company’s current price.

GDYN has been the subject of a number of other reports. Citigroup cut their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Cantor Fitzgerald boosted their price objective on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $15.75.

Grid Dynamics Stock Up 2.3 %

Grid Dynamics stock opened at $10.07 on Thursday. The stock has a market cap of $765.02 million, a price-to-earnings ratio of -335.55 and a beta of 1.00. The business has a 50 day moving average price of $11.82 and a two-hundred day moving average price of $12.35. Grid Dynamics has a 12 month low of $8.00 and a 12 month high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $78.07 million for the quarter, compared to analyst estimates of $76.64 million. Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, analysts expect that Grid Dynamics will post 0.07 earnings per share for the current fiscal year.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $13.26, for a total transaction of $53,040.00. Following the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at approximately $5,245,231.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.54, for a total value of $105,400.00. Following the completion of the transaction, the chief executive officer now owns 3,660,691 shares of the company’s stock, valued at $38,583,683.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at approximately $5,245,231.68. The disclosure for this sale can be found here. Insiders have sold 88,884 shares of company stock worth $1,099,255 in the last 90 days. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC grew its stake in shares of Grid Dynamics by 1.2% in the first quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock valued at $28,748,000 after buying an additional 26,974 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Grid Dynamics in the 1st quarter valued at about $454,000. Wasatch Advisors LP increased its stake in shares of Grid Dynamics by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after purchasing an additional 357,785 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Grid Dynamics by 26.7% in the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after purchasing an additional 396,320 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in Grid Dynamics by 6.7% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 84,379 shares of the company’s stock valued at $1,125,000 after purchasing an additional 5,328 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Company Profile

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.