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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Free Report) has received an average rating of “Buy” from the five analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.20.

Several analysts recently commented on the company. Citigroup dropped their price objective on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Grid Dynamics in a research report on Thursday, May 23rd. Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Grid Dynamics in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. lowered their target price on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd.

Read Our Latest Research Report on GDYN

Grid Dynamics Stock Up 4.0 %

GDYN stock opened at $10.70 on Friday. The company has a market cap of $818.77 million, a P/E ratio of 356.67 and a beta of 1.05. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $14.70. The business has a fifty day moving average of $10.10 and a 200-day moving average of $11.67.

Grid Dynamics (NASDAQ:GDYNGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. The company had revenue of $79.82 million during the quarter, compared to the consensus estimate of $77.48 million. As a group, equities research analysts anticipate that Grid Dynamics will post 0.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now directly owns 385,979 shares in the company, valued at $3,859,790. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total value of $30,000.00. Following the sale, the chief financial officer now owns 385,979 shares of the company’s stock, valued at $3,859,790. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $10.38, for a total transaction of $103,800.00. Following the completion of the transaction, the chief executive officer now directly owns 3,565,901 shares of the company’s stock, valued at approximately $37,014,052.38. The disclosure for this sale can be found here. Insiders have sold a total of 73,000 shares of company stock worth $734,850 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of hedge funds and other institutional investors have recently modified their holdings of GDYN. Wellington Management Group LLP boosted its position in Grid Dynamics by 113.9% during the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after purchasing an additional 789,373 shares during the last quarter. 1492 Capital Management LLC raised its stake in shares of Grid Dynamics by 1.1% during the 4th quarter. 1492 Capital Management LLC now owns 271,964 shares of the company’s stock worth $3,625,000 after purchasing an additional 2,926 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Grid Dynamics by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after purchasing an additional 357,785 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Grid Dynamics by 41.1% in the 4th quarter. Mutual of America Capital Management LLC now owns 209,208 shares of the company’s stock valued at $2,789,000 after buying an additional 60,906 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Grid Dynamics by 5.8% in the third quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company’s stock valued at $3,308,000 after buying an additional 14,940 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

About Grid Dynamics

(Get Free Report

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.

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Analyst Recommendations for Grid Dynamics (NASDAQ:GDYN)

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