Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $18.33 Consensus PT from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five 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 brokerages that have updated their coverage on the stock in the last year is $18.33.

Several brokerages have commented on GDYN. JPMorgan Chase & Co. raised their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Needham & Company LLC raised their price objective on Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, TD Cowen increased their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $21.91 on Friday. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $24.16. The stock has a market cap of $1.81 billion, a P/E ratio of 730.58 and a beta of 1.06. The stock has a 50 day simple moving average of $18.79 and a two-hundred day simple moving average of $15.11.

Grid Dynamics (NASDAQ:GDYN) last issued 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. 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 the consensus estimate of $85.09 million. During the same period in the previous year, the firm earned $0.08 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts predict that Grid Dynamics will post 0.03 earnings per share for the current year.

Insider Transactions at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the completion of the sale, the chief financial officer now owns 373,282 shares of the company’s stock, valued at approximately $7,122,220.56. This trade represents a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief executive officer now directly owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $399,260 in the last quarter. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after purchasing an additional 675,419 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 buying an additional 206,201 shares during the last quarter. State Street Corp grew its holdings in shares of Grid Dynamics by 0.5% in the third quarter. State Street Corp now owns 1,446,130 shares of the company’s stock worth $20,246,000 after acquiring an additional 6,938 shares during the period. Geode Capital Management LLC increased its position in Grid Dynamics by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock valued at $19,344,000 after acquiring an additional 17,763 shares during the last quarter. Finally, Summit Creek Advisors LLC lifted its holdings in Grid Dynamics by 25.1% in the second quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company’s stock valued at $12,065,000 after acquiring an additional 230,688 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

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.