Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $17.50 Consensus Target Price from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given an average rating of “Buy” by the six research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.33.

Several research firms have recently commented on GDYN. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price target on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday. Citigroup increased their price objective 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, TD Cowen raised their target price 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.

Grid Dynamics Price Performance

NASDAQ:GDYN opened at $19.12 on Monday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 637.33 and a beta of 1.06. The business has a 50 day moving average of $17.02 and a 200 day moving average of $13.84. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $20.34.

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

Insiders Place Their Bets

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. This represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction dated Thursday, November 7th. The shares were 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock worth $605,210. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GDYN. Price T Rowe Associates Inc. MD grew its stake in Grid Dynamics by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock worth $314,000 after purchasing an additional 1,985 shares during the period. Comerica Bank increased its stake in shares of Grid Dynamics by 198.8% in the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock worth $956,000 after acquiring an additional 51,778 shares in the last quarter. Nicholas Company Inc. lifted its position in Grid Dynamics by 7.3% during the 2nd quarter. Nicholas Company Inc. now owns 368,121 shares of the company’s stock valued at $3,869,000 after acquiring an additional 24,986 shares during the period. Bank of New York Mellon Corp boosted its stake in Grid Dynamics by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 240,095 shares of the company’s stock worth $2,523,000 after acquiring an additional 20,989 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Grid Dynamics by 17.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock worth $188,000 after buying an additional 2,673 shares during the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.