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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received an average rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $18.33.

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, October 28th. TD Cowen boosted their price objective on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted 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. Finally, Needham & Company LLC boosted their price objective on Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Thursday.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total value of $205,950.00. Following the completion of the transaction, the chief executive officer now owns 3,475,901 shares in the company, valued at $47,724,120.73. The trade was a 0.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $17.66, for a total value of $52,980.00. Following the completion of the transaction, the chief financial officer now owns 380,282 shares of the company’s stock, valued at approximately $6,715,780.12. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock worth $605,210 in the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Several large investors have recently bought and sold shares of the company. FMR LLC increased its stake in Grid Dynamics by 38.7% during the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Grid Dynamics by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock worth $235,000 after buying an additional 1,184 shares in the last quarter. Trust Point Inc. increased its stake in Grid Dynamics by 5.0% during the 3rd quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after buying an additional 1,532 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Grid Dynamics by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock worth $314,000 after buying an additional 1,985 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Grid Dynamics by 17.5% during 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 in the last quarter. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

Grid Dynamics Stock Performance

Shares of GDYN opened at $19.12 on Monday. The stock has a 50-day moving average of $17.02 and a two-hundred day moving average of $13.90. Grid Dynamics has a one year low of $9.07 and a one year high of $20.34. The stock has a market cap of $1.58 billion, a P/E ratio of 637.33 and a beta of 1.06.

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 the consensus estimate of $0.09 by $0.01. The business had revenue of $87.40 million during 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 company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Analysts predict that Grid Dynamics will post 0.03 EPS for the current fiscal year.

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.