Grid Dynamics (NASDAQ:GDYN) Price Target Raised to $30.00 at Needham & Company LLC

Grid Dynamics (NASDAQ:GDYN) had its target price hoisted by Needham & Company LLC from $25.00 to $30.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

GDYN has been the topic of several other reports. Citigroup upped their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. TD Cowen upped their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $19.17.

Grid Dynamics Price Performance

NASDAQ:GDYN opened at $21.37 on Friday. The firm’s fifty day moving average price is $21.64 and its two-hundred day moving average price is $17.62. Grid Dynamics has a one year low of $9.07 and a one year high of $25.50. The company has a market cap of $1.76 billion, a P/E ratio of 712.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. As a group, equities research analysts expect that Grid Dynamics will post 0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the sale, the chief financial officer now owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 8,000 shares of company stock valued at $171,780 over the last quarter. 7.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $25,000. Global Retirement Partners LLC bought a new position in shares of Grid Dynamics in the fourth quarter worth about $27,000. MCF Advisors LLC lifted its holdings in shares of Grid Dynamics by 65.8% in the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after acquiring an additional 740 shares during the last quarter. FMR LLC lifted its holdings in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after acquiring an additional 801 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Grid Dynamics in the fourth quarter worth about $70,000. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

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.