Grid Dynamics (NASDAQ:GDYN) Hits New 1-Year High – Should You Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) reached a new 52-week high on Friday . The company traded as high as $20.43 and last traded at $20.41, with a volume of 954995 shares trading hands. The stock had previously closed at $19.31.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GDYN shares. Citigroup increased their price target 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. raised their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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 research report on Friday, November 1st. Finally, Needham & Company LLC raised their target price on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.33.

Grid Dynamics Trading Up 0.4 %

The firm has a 50-day moving average of $17.56 and a two-hundred day moving average of $14.23. The firm 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 posted its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $87.40 million for 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 quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $0.08 EPS. On average, sell-side analysts anticipate that Grid Dynamics Holdings, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now owns 3,475,901 shares in the company, valued at $47,724,120.73. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total transaction of $70,640.00. Following the sale, the chief financial officer now directly owns 376,282 shares in the company, valued at $6,645,140.12. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $605,210 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after buying an additional 675,419 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Grid Dynamics in the third quarter valued at approximately $8,589,000. Fourth Sail Capital LP boosted its holdings in Grid Dynamics by 138.0% in the second quarter. Fourth Sail Capital LP now owns 769,924 shares of the company’s stock valued at $8,092,000 after acquiring an additional 446,477 shares during the last quarter. Summit Creek Advisors LLC increased its position in Grid Dynamics by 25.1% during the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after purchasing an additional 230,688 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Grid Dynamics by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after purchasing an additional 206,201 shares during the period. 71.18% of the stock is currently 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.