Grid Dynamics (NASDAQ:GDYN) Shares Up 4.9% – Time to Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s stock price rose 4.9% on Thursday . The stock traded as high as $20.27 and last traded at $20.25. Approximately 421,597 shares changed hands during trading, an increase of 8% from the average daily volume of 389,699 shares. The stock had previously closed at $19.31.

Analyst Upgrades and Downgrades

GDYN has been the topic of several recent analyst reports. TD Cowen lifted their price target on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $18.33.

Grid Dynamics Stock Up 0.4 %

The firm has a 50-day moving average of $17.56 and a 200 day moving average of $14.20. The stock has a market capitalization of $1.69 billion, a P/E ratio of 683.56 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company 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 firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS. Analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the sale, the chief executive officer now owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. The trade was a 0.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 380,282 shares in the company, valued at approximately $6,715,780.12. The trade was a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,000 shares of company stock worth $605,210. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GDYN. Lord Abbett & CO. LLC bought a new position in Grid Dynamics in the 3rd quarter valued at $8,589,000. Barclays PLC increased its stake in shares of Grid Dynamics by 173.8% in the third quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after buying an additional 70,579 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Grid Dynamics by 35.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 107,738 shares of the company’s stock valued at $1,508,000 after buying an additional 28,438 shares during the last quarter. Geode Capital Management LLC lifted its position in Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after buying an additional 17,763 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after acquiring an additional 675,419 shares during the last quarter. 71.18% of the stock is owned by institutional investors and hedge funds.

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.