Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $17.50 Consensus PT from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $17.50.

Several research analysts have issued reports on the company. Citigroup boosted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC raised their target price on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. TD Cowen increased their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th.

Grid Dynamics Price Performance

NASDAQ:GDYN opened at $19.63 on Monday. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 666.67 and a beta of 1.06. The business has a 50 day simple moving average of $16.71 and a 200-day simple moving average of $13.70. Grid Dynamics has a 1 year low of $9.07 and a 1 year high of $20.34.

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

Insider Buying and Selling

In other news, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at $6,645,140.12. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at $47,724,120.73. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,000 shares of company stock worth $605,210 in the last ninety days. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GDYN. Comerica Bank lifted its position in Grid Dynamics by 198.8% during the first quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after purchasing an additional 51,778 shares during the period. Fourth Sail Capital LP grew its holdings in Grid Dynamics by 138.0% during the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock worth $8,092,000 after acquiring an additional 446,477 shares during the period. Vontobel Holding Ltd. purchased a new position in Grid Dynamics during the third quarter valued at approximately $1,143,000. Summit Creek Advisors LLC raised its position in Grid Dynamics by 25.1% during the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after acquiring an additional 230,688 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Grid Dynamics by 5.9% in the 3rd quarter. Royce & Associates LP now owns 802,101 shares of the company’s stock worth $11,229,000 after purchasing an additional 44,720 shares in the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

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.