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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned an average rating of “Buy” from the six research firms that are covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.33.

Several research firms recently issued reports on GDYN. TD Cowen lifted their price objective on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC lifted their price target on Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Citigroup upped their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price 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.

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $17.66, for a total transaction of $52,980.00. Following the transaction, the chief financial officer now owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 13,000 shares of company stock worth $247,220 over the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GDYN. MCF Advisors LLC boosted its holdings in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after acquiring an additional 740 shares during the period. FMR LLC lifted its position in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares during the last quarter. Quarry LP boosted its stake in shares of Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after purchasing an additional 2,974 shares during the period. Quantbot Technologies LP bought a new position in shares of Grid Dynamics in the third quarter worth approximately $122,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Grid Dynamics in the fourth quarter worth $222,000. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Stock Down 3.6 %

GDYN stock opened at $21.28 on Tuesday. The stock has a 50-day simple moving average of $20.05 and a two-hundred day simple moving average of $16.25. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $24.16. The firm has a market capitalization of $1.75 billion, a PE ratio of 709.40 and a beta of 1.01.

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