Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $18.33 Average PT from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given a consensus rating of “Buy” by the six brokerages that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $18.33.

GDYN has been the topic of several research reports. TD Cowen upped their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Needham & Company LLC upped their target price 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. Citigroup lifted their price target on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th.

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $19.08, for a total transaction of $57,240.00. Following the completion of the transaction, the chief financial officer now owns 373,282 shares in the company, valued at approximately $7,122,220.56. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 10,000 shares of company stock valued at $180,860 over the last three months. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDYN. FMR LLC increased its stake in shares of Grid Dynamics by 38.7% during 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 position in Grid Dynamics by 131.5% in the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after buying an additional 2,974 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Grid Dynamics in the third quarter valued at $122,000. Intech Investment Management LLC purchased a new position in shares of Grid Dynamics during the 3rd quarter valued at $153,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Grid Dynamics during the 2nd quarter valued at $117,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Trading Down 2.7 %

Shares of NASDAQ GDYN opened at $21.58 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 719.57 and a beta of 1.01. The firm’s 50-day moving average price is $19.02 and its 200-day moving average price is $15.28. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $24.16.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. Equities research analysts forecast that Grid Dynamics will post 0.03 EPS for the current year.

About Grid Dynamics

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.