Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $15.67 Consensus Target Price from Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus rating of “Buy” from the six research firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $15.67.

GDYN has been the topic of several recent analyst reports. Citigroup cut their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Cantor Fitzgerald upgraded Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. Needham & Company LLC boosted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 6th.

Insider Activity at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the sale, the chief financial officer now directly owns 369,282 shares in the company, valued at approximately $4,789,587.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total value of $195,300.00. Following the completion of the sale, the chief executive officer now directly owns 3,520,901 shares in the company, valued at approximately $45,842,131.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the transaction, the chief financial officer now owns 369,282 shares of the company’s stock, valued at approximately $4,789,587.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 961,387 shares of company stock valued at $12,349,914. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GDYN. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Grid Dynamics by 6.7% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 84,379 shares of the company’s stock worth $1,125,000 after buying an additional 5,328 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Grid Dynamics by 26.7% during the fourth quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock worth $25,046,000 after buying an additional 396,320 shares during the last quarter. Wasatch Advisors LP lifted its holdings in shares of Grid Dynamics by 4.9% during the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after buying an additional 357,785 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Grid Dynamics during the first quarter worth approximately $454,000. Finally, Jennison Associates LLC lifted its holdings in shares of Grid Dynamics by 1.2% during the first quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock worth $28,748,000 after buying an additional 26,974 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Up 0.2 %

Shares of NASDAQ GDYN opened at $15.47 on Friday. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $15.73. The firm’s 50-day simple moving average is $14.15 and its 200 day simple moving average is $11.99. The stock has a market cap of $1.18 billion, a P/E ratio of 512.67 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data 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. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The business had revenue of $83.04 million for the quarter, compared to analysts’ expectations of $81.06 million. During the same period in the previous year, the business earned $0.09 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis.

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.