Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Price Target at $15.67

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.67.

Several equities analysts have recently issued reports on the stock. Citigroup decreased their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, July 12th. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $16.00 in a report on Friday, August 2nd. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, September 6th.

Insider Activity

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the transaction, the insider now owns 13,889,183 shares in the company, valued at $177,781,542.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total value of $116,300.00. Following the transaction, the chief executive officer now directly owns 3,555,901 shares in the company, valued at approximately $41,355,128.63. The disclosure for this sale can be found here. Insiders have sold 956,387 shares of company stock worth $12,247,814 over the last ninety days. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GDYN. The Manufacturers Life Insurance Company raised its holdings in shares of Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after purchasing an additional 1,184 shares during the period. Squarepoint Ops LLC bought a new stake in Grid Dynamics in the second quarter valued at approximately $191,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Grid Dynamics in the second quarter valued at approximately $141,000. XTX Topco Ltd acquired a new position in shares of Grid Dynamics during the 2nd quarter worth approximately $129,000. Finally, Hsbc Holdings PLC bought a new stake in Grid Dynamics in the 2nd quarter valued at $117,000. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Trading Down 0.3 %

Shares of NASDAQ:GDYN opened at $13.96 on Wednesday. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $14.70. The business has a 50-day moving average price of $13.54 and a two-hundred day moving average price of $11.68. The stock has a market capitalization of $1.07 billion, a P/E ratio of 465.33 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $83.04 million for the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS.

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.