Grid Dynamics (NASDAQ:GDYN) Hits New 12-Month High – Still a Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.92 and last traded at $20.79, with a volume of 149994 shares changing hands. The stock had previously closed at $20.53.

Analyst Upgrades and Downgrades

Several research firms recently commented on GDYN. Needham & Company LLC upped their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen boosted their target price on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Citigroup increased their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Grid Dynamics currently has an average rating of “Buy” and a consensus target price of $18.33.

Grid Dynamics Price Performance

The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 693.90 and a beta of 1.06. The firm’s 50-day moving average price is $17.87 and its 200 day moving average price is $14.46.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm 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 firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total value of $218,400.00. Following the transaction, the chief executive officer now directly owns 3,460,901 shares of the company’s stock, valued at approximately $50,390,718.56. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $19.08, for a total value of $57,240.00. Following the sale, the chief financial officer now directly owns 373,282 shares of the company’s stock, valued at approximately $7,122,220.56. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,000 shares of company stock valued at $399,260. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently modified their holdings of GDYN. FMR LLC raised its holdings in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares during the period. Quarry LP lifted its holdings in shares of Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Grid Dynamics during the 3rd quarter worth $122,000. Intech Investment Management LLC acquired a new stake in Grid Dynamics in the 3rd quarter valued at $153,000. Finally, Hsbc Holdings PLC purchased a new position in Grid Dynamics in the second quarter valued at about $117,000. 71.18% of the stock is owned by institutional investors and hedge funds.

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.