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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given an average recommendation of “Buy” by the five analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $18.75.

Several equities analysts have recently commented on GDYN shares. Needham & Company LLC upped their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen downgraded Grid Dynamics from a “buy” rating to a “hold” rating in a research report on Friday, May 30th.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the completion of the sale, the chief operating officer now directly owns 474,269 shares in the company, valued at $6,269,836.18. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 4,737 shares of company stock worth $65,288. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Coppell Advisory Solutions LLC bought a new position in shares of Grid Dynamics in the 4th quarter valued at $25,000. Global Retirement Partners LLC acquired a new stake in Grid Dynamics in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Grid Dynamics by 28,150.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after acquiring an additional 1,689 shares during the period. PNC Financial Services Group Inc. grew its holdings in Grid Dynamics by 199.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after acquiring an additional 1,526 shares during the period. Finally, USA Financial Formulas acquired a new stake in Grid Dynamics during the 1st quarter worth about $42,000. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Up 0.3%

Shares of NASDAQ GDYN opened at $11.84 on Friday. The business’s 50 day moving average price is $12.98 and its two-hundred day moving average price is $17.07. The company has a market cap of $1.00 billion, a PE ratio of 98.67 and a beta of 1.07. Grid Dynamics has a twelve month low of $10.00 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $100.42 million for the quarter, compared to the consensus estimate of $98.19 million. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The business’s revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, research analysts anticipate that Grid Dynamics will post 0.18 EPS for the current fiscal year.

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.