Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $18.33 Consensus Target Price from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given an average rating of “Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.33.

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

Insider Buying and Selling at Grid Dynamics

In related news, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the sale, the chief financial officer now directly owns 376,282 shares of the company’s stock, valued at $6,645,140.12. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 10,000 shares of company stock worth $194,240 over the last three months. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in shares of Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock worth $40,037,000 after buying an additional 675,419 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in Grid Dynamics during the 3rd quarter worth approximately $8,589,000. Principal Financial Group Inc. grew its stake in shares of Grid Dynamics by 1,540.0% in the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company’s stock valued at $7,041,000 after purchasing an additional 297,296 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock valued at $17,581,000 after purchasing an additional 206,201 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Grid Dynamics during the third quarter worth approximately $1,751,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Performance

NASDAQ GDYN opened at $22.59 on Tuesday. The stock’s fifty day moving average is $20.54 and its two-hundred day moving average is $16.56. The firm has a market capitalization of $1.86 billion, a P/E ratio of 753.25 and a beta of 1.01. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $24.16.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. During the same quarter 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. As a group, sell-side analysts forecast that Grid Dynamics will post 0.03 EPS for the current year.

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.