Grid Dynamics (NASDAQ:GDYN) Shares Gap Up – Still a Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s share price gapped up prior to trading on Friday . The stock had previously closed at $21.07, but opened at $23.08. Grid Dynamics shares last traded at $23.82, with a volume of 395,958 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GDYN shares. JPMorgan Chase & Co. upped their price target 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. Needham & Company LLC upped their target price on Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. TD Cowen lifted their price target on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Citigroup upped 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. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Grid Dynamics presently has an average rating of “Buy” and an average price target of $18.33.

Grid Dynamics Trading Up 10.1 %

The stock has a market cap of $1.91 billion, a P/E ratio of 773.59 and a beta of 1.06. The business has a 50-day simple moving average of $17.98 and a 200 day simple moving average of $14.51.

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

Insider Buying and Selling

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the sale, the chief executive officer now owns 3,460,901 shares of the company’s stock, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anil Doradla sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 376,282 shares in the company, valued at approximately $6,645,140.12. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $399,260 over the last quarter. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC bought a new stake in Grid Dynamics in the third quarter valued at $8,589,000. Barclays PLC increased its position in Grid Dynamics by 173.8% in the 3rd quarter. Barclays PLC now owns 111,182 shares of the company’s stock valued at $1,556,000 after buying an additional 70,579 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Grid Dynamics by 35.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 107,738 shares of the company’s stock valued at $1,508,000 after buying an additional 28,438 shares in the last quarter. Geode Capital Management LLC raised its stake in Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company’s stock worth $19,344,000 after buying an additional 17,763 shares during the period. Finally, Wellington Management Group LLP grew its stake in Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after acquiring an additional 675,419 shares during the period. 71.18% of the stock is owned by 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.