Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Consensus Recommendation of “Buy” by Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average rating of “Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.00.

GDYN has been the topic of several research analyst reports. Citigroup cut their target price on shares of Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Grid Dynamics in a research report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Grid Dynamics in a report on Friday, May 3rd.

Grid Dynamics Trading Up 0.3 %

Shares of GDYN opened at $11.99 on Friday. The firm’s fifty day simple moving average is $10.20 and its two-hundred day simple moving average is $11.60. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $14.70. The stock has a market capitalization of $917.47 million, a P/E ratio of 399.80 and a beta of 1.05.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, May 2nd. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.09). The business had revenue of $79.82 million for the quarter, compared to the consensus estimate of $77.48 million. Grid Dynamics had a net margin of 0.72% and a return on equity of 3.31%. As a group, research analysts predict that Grid Dynamics will post 0.02 EPS for the current fiscal year.

Insider Activity

In related news, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total value of $116,300.00. Following the completion of the sale, the chief executive officer now directly owns 3,555,901 shares of the company’s stock, valued at approximately $41,355,128.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Shuo Zhang sold 4,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $9.34, for a total transaction of $37,360.00. Following the completion of the transaction, the director now directly owns 22,015 shares of the company’s stock, valued at approximately $205,620.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,555,901 shares of the company’s stock, valued at approximately $41,355,128.63. The disclosure for this sale can be found here. Insiders have sold 83,000 shares of company stock worth $851,150 over the last 90 days. 7.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Grid Dynamics by 113.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after acquiring an additional 789,373 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of Grid Dynamics by 123.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 79,051 shares of the company’s stock valued at $963,000 after purchasing an additional 43,651 shares during the period. Vanguard Group Inc. lifted its stake in shares of Grid Dynamics by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,007,370 shares of the company’s stock valued at $48,810,000 after buying an additional 45,750 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Grid Dynamics by 5.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company’s stock valued at $3,308,000 after buying an additional 14,940 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Grid Dynamics by 52.4% during the 4th quarter. SG Americas Securities LLC now owns 17,723 shares of the company’s stock valued at $236,000 after acquiring an additional 6,094 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.