Grid Dynamics (NASDAQ:GDYN) Stock Rating Lowered by Wall Street Zen

Grid Dynamics (NASDAQ:GDYN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Needham & Company LLC boosted their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $18.75.

Grid Dynamics Stock Performance

GDYN opened at $12.65 on Friday. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $25.50. The stock has a market capitalization of $1.07 billion, a PE ratio of 316.25 and a beta of 1.13. The stock’s 50 day moving average price is $13.93 and its 200-day moving average price is $17.88.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.42 million for the quarter, compared to analysts’ expectations of $98.19 million. During the same period in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. Research analysts forecast that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Insider Activity

In other news, CFO Anil Doradla sold 2,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $18.10, for a total transaction of $36,200.00. Following the completion of the sale, the chief financial officer now owns 366,818 shares of the company’s stock, valued at $6,639,405.80. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the sale, the chief operating officer now directly owns 482,759 shares of the company’s stock, valued at $9,008,282.94. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,043 shares of company stock valued at $327,338 over the last ninety days. 7.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC bought a new position in Grid Dynamics in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC bought a new position in Grid Dynamics in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its stake in Grid Dynamics by 28,150.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after purchasing an additional 1,689 shares during the period. PNC Financial Services Group Inc. boosted its stake in Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after purchasing an additional 1,526 shares during the period. Finally, USA Financial Formulas bought a new position in Grid Dynamics in the 1st quarter worth approximately $42,000. 71.18% of the stock is owned by hedge funds and other 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.