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

A number of research firms have changed their ratings and price targets for Grid Dynamics (NASDAQ: GDYN):

• 11/1/2024 – Grid Dynamics had its price target raised by analysts at TD Cowen from $16.00 to $19.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Grid Dynamics had its price target raised by analysts at Needham & Company LLC from $17.00 to $20.00. They now have a “buy” rating on the stock.
• 10/30/2024 – Grid Dynamics had its price target raised by analysts at JPMorgan Chase & Co. from $17.00 to $18.00. They now have an “overweight” rating on the stock.
• 10/28/2024 – Grid Dynamics had its price target raised by analysts at Citigroup Inc. from $17.00 to $18.00. They now have a “buy” rating on the stock.

Grid Dynamics Stock Up 1.9 %

NASDAQ GDYN opened at $18.00 on Monday. Grid Dynamics Holdings, Inc. has a 52-week low of $9.07 and a 52-week high of $18.01. The business’s 50-day moving average price is $14.76 and its 200 day moving average price is $12.44. The firm has a market cap of $1.38 billion, a P/E ratio of 600.00 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The firm had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. During the same quarter last year, the firm earned $0.08 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year.

Insider Buying and Selling

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total value of $195,300.00. Following the completion of the sale, the chief executive officer now directly owns 3,520,901 shares of the company’s stock, valued at approximately $45,842,131.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the sale, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at $6,715,780.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the transaction, the chief executive officer now owns 3,520,901 shares in the company, valued at $45,842,131.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 961,387 shares of company stock worth $12,363,984 in the last ninety days. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new position in shares of Grid Dynamics during the 3rd quarter valued at $153,000. Quest Partners LLC lifted its holdings in shares of Grid Dynamics by 35,544.7% during the 3rd quarter. Quest Partners LLC now owns 16,753 shares of the company’s stock valued at $235,000 after acquiring an additional 16,706 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Grid Dynamics by 5.9% during the 3rd quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock valued at $11,229,000 after acquiring an additional 44,720 shares in the last quarter. Rice Hall James & Associates LLC acquired a new position in shares of Grid Dynamics during the 3rd quarter valued at $1,751,000. Finally, Mount Yale Investment Advisors LLC lifted its holdings in shares of Grid Dynamics by 32.5% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 17,791 shares of the company’s stock valued at $249,000 after acquiring an additional 4,362 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.