Grid Dynamics (NASDAQ:GDYN) Reaches New 1-Year High – Time to Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s share price reached a new 52-week high on Monday . The stock traded as high as $15.14 and last traded at $15.05, with a volume of 30136 shares changing hands. The stock had previously closed at $14.78.

Analyst Ratings Changes

GDYN has been the topic of several recent research reports. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a report on Monday, August 12th. Needham & Company LLC raised their target price on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. TD Cowen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating and raised their target price for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. Finally, Citigroup lowered their target price on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Grid Dynamics currently has an average rating of “Buy” and an average target price of $15.67.

Grid Dynamics Stock Up 1.2 %

The business’s 50 day moving average is $13.81 and its 200-day moving average is $11.79. The firm has a market capitalization of $1.14 billion, a P/E ratio of 492.67 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The business had revenue of $83.04 million for the quarter, compared to analysts’ expectations of $81.06 million. During the same period last year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $11.63, for a total value of $116,300.00. Following the sale, the chief executive officer now owns 3,555,901 shares in the company, valued at $41,355,128.63. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the transaction, the insider now owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leonard Livschitz sold 10,000 shares of Grid Dynamics stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total transaction of $116,300.00. Following the transaction, the chief executive officer now owns 3,555,901 shares in the company, valued at approximately $41,355,128.63. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 971,387 shares of company stock worth $12,466,214 over the last quarter. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

A number of hedge funds have recently modified their holdings of GDYN. Harbor Capital Advisors Inc. lifted its holdings in shares of Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after purchasing an additional 1,770 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Grid Dynamics during the second quarter worth $117,000. ProShare Advisors LLC acquired a new position in shares of Grid Dynamics during the first quarter worth $124,000. XTX Topco Ltd acquired a new position in shares of Grid Dynamics during the second quarter worth $129,000. Finally, Mount Yale Investment Advisors LLC bought a new position in Grid Dynamics during the second quarter worth $141,000. Institutional investors and hedge funds 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.