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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $15.33.

GDYN has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a report on Thursday, May 23rd. TD Cowen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC boosted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Citigroup decreased their target price on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 12th.

Grid Dynamics Trading Down 0.9 %

Grid Dynamics stock opened at $13.92 on Friday. Grid Dynamics has a 1 year low of $9.07 and a 1 year high of $14.70. The firm has a market capitalization of $1.07 billion, a P/E ratio of 464.00 and a beta of 1.05. The business has a 50-day moving average of $12.17 and a 200-day moving average of $11.61.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. During the same period last year, the company earned $0.09 earnings per share. Grid Dynamics’s quarterly revenue was up 7.4% on a year-over-year basis. Research analysts anticipate that Grid Dynamics will post 0.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the sale, the chief executive officer now owns 3,520,901 shares of the company’s stock, valued at $45,842,131.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the transaction, the chief financial officer now directly owns 369,282 shares in the company, valued at approximately $4,789,587.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total transaction of $195,300.00. Following the completion of the transaction, the chief executive officer now owns 3,520,901 shares in the company, valued at approximately $45,842,131.02. The disclosure for this sale can be found here. Insiders sold a total of 68,000 shares of company stock valued at $741,960 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its holdings in shares of Grid Dynamics by 42.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 479,302 shares of the company’s stock valued at $5,890,000 after purchasing an additional 142,446 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Grid Dynamics by 43.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 604,481 shares of the company’s stock valued at $7,429,000 after buying an additional 182,052 shares during the last quarter. Comerica Bank grew its holdings in Grid Dynamics by 198.8% during the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after buying an additional 51,778 shares in the last quarter. 1492 Capital Management LLC increased its stake in Grid Dynamics by 1.1% in the 4th quarter. 1492 Capital Management LLC now owns 271,964 shares of the company’s stock worth $3,625,000 after acquiring an additional 2,926 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Grid Dynamics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company’s stock worth $51,643,000 after acquiring an additional 64,300 shares in the last quarter. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

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.