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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus rating of “Buy” from the five analysts that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.75.

Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Grid Dynamics from a “buy” rating to a “hold” rating in a report on Sunday. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 2nd.

Grid Dynamics Trading Up 1.1%

Shares of Grid Dynamics stock opened at $10.62 on Tuesday. Grid Dynamics has a 12-month low of $10.26 and a 12-month high of $25.50. The stock has a market cap of $897.92 million, a PE ratio of 88.51 and a beta of 1.04. The company has a 50-day moving average of $12.26 and a two-hundred day moving average of $15.99.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) 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 analyst estimates of $98.19 million. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. Grid Dynamics’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the sale, the chief operating officer directly owned 474,269 shares in the company, valued at approximately $6,269,836.18. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 6,737 shares of company stock worth $84,251 in the last ninety days. 7.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GDYN. American Century Companies Inc. boosted its holdings in Grid Dynamics by 824.9% during the 4th quarter. American Century Companies Inc. now owns 621,465 shares of the company’s stock worth $13,821,000 after acquiring an additional 554,275 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Grid Dynamics by 35.1% during the 1st quarter. New York State Teachers Retirement System now owns 17,903 shares of the company’s stock worth $280,000 after acquiring an additional 4,656 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Grid Dynamics in the 1st quarter worth about $546,000. SG Americas Securities LLC boosted its holdings in shares of Grid Dynamics by 426.8% in the 1st quarter. SG Americas Securities LLC now owns 57,363 shares of the company’s stock worth $898,000 after buying an additional 46,475 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Grid Dynamics by 3.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 91,624 shares of the company’s stock worth $1,434,000 after buying an additional 3,209 shares during the last quarter. Institutional investors own 71.18% of the company’s stock.

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.