Wall Street Zen Upgrades Grid Dynamics (NASDAQ:GDYN) to Buy

Grid Dynamics (NASDAQ:GDYN) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other research firms also recently weighed in on GDYN. Weiss Ratings reissued a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday, October 29th. TD Cowen boosted their target price on shares of Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, October 30th. Needham & Company LLC upped their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Zacks Research cut shares of Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.80.

Grid Dynamics Stock Performance

GDYN opened at $13.10 on Friday. The stock’s fifty day simple moving average is $8.68 and its 200 day simple moving average is $7.10. Grid Dynamics has a 1-year low of $5.11 and a 1-year high of $14.02. The stock has a market cap of $1.06 billion, a PE ratio of 145.56 and a beta of 0.88.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The firm had revenue of $114.29 million during the quarter, compared to analysts’ expectations of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. Equities analysts forecast that Grid Dynamics will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 20,000 shares of Grid Dynamics stock in a transaction on Friday, October 30th. The stock was sold at an average price of $10.51, for a total value of $210,200.00. Following the completion of the transaction, the chief financial officer directly owned 374,509 shares of the company’s stock, valued at $3,936,089.59. The trade was a 5.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yury Gryzlov sold 4,715 shares of Grid Dynamics stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $13.55, for a total value of $63,888.25. Following the completion of the transaction, the chief operating officer directly owned 480,063 shares of the company’s stock, valued at $6,504,853.65. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,636 shares of company stock worth $500,195 in the last three months. 6.50% of the stock is currently owned by company insiders.

Institutional Trading of Grid Dynamics

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in Grid Dynamics by 13.3% during the third quarter. Russell Investments Group Ltd. now owns 481,142 shares of the company’s stock worth $3,774,000 after buying an additional 56,505 shares in the last quarter. Fifth Third Bancorp increased its holdings in Grid Dynamics by 13.2% in the 3rd quarter. Fifth Third Bancorp now owns 22,594 shares of the company’s stock valued at $178,000 after buying an additional 2,640 shares during the period. Fulcrum Asset Management LLP increased its holdings in Grid Dynamics by 62,642.9% in the 3rd quarter. Fulcrum Asset Management LLP now owns 52,704 shares of the company’s stock valued at $403,000 after buying an additional 52,620 shares during the period. Summit Creek Advisors LLC increased its holdings in Grid Dynamics by 13.1% in the 3rd quarter. Summit Creek Advisors LLC now owns 488,332 shares of the company’s stock valued at $3,848,000 after buying an additional 56,661 shares during the period. Finally, StoneX Group Inc. acquired a new position in shares of Grid Dynamics in the 3rd quarter valued at approximately $120,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.