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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $18.33.

A number of equities research analysts have recently weighed in on GDYN shares. Citigroup lifted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, TD Cowen lifted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Grid Dynamics Stock Down 2.1 %

Shares of NASDAQ GDYN opened at $21.12 on Friday. The firm’s fifty day moving average is $19.23 and its 200 day moving average is $15.36. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $24.16. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 704.23 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities research analysts anticipate that Grid Dynamics will post 0.03 earnings per share for the current year.

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the transaction, the chief financial officer now owns 380,282 shares of the company’s stock, valued at $6,715,780.12. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 13,000 shares of company stock worth $247,220. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after purchasing an additional 801 shares during the last quarter. Quarry LP increased its stake in Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after purchasing an additional 2,974 shares in the last quarter. Quantbot Technologies LP purchased a new position in Grid Dynamics in the third quarter worth about $122,000. Intech Investment Management LLC bought a new position in shares of Grid Dynamics in the third quarter worth approximately $153,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Grid Dynamics during the second quarter valued at approximately $117,000. 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.