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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus recommendation of “Buy” from the six research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $15.67.

Several research analysts have recently issued reports on the stock. TD Cowen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and upped their target price for the company from $12.00 to $16.00 in a report on Friday, August 2nd. Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on shares of Grid Dynamics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Citigroup dropped their price target on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. Finally, Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th.

Insiders Place Their Bets

In other news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total transaction of $38,910.00. Following the sale, the chief financial officer now owns 369,282 shares in the company, valued at $4,789,587.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 966,387 shares of company stock worth $12,351,614. Company insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GDYN. Harbor Capital Advisors Inc. raised its stake in shares of Grid Dynamics by 21.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after buying an additional 1,770 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Grid Dynamics in the second quarter valued at about $117,000. ProShare Advisors LLC acquired a new stake in shares of Grid Dynamics in the first quarter valued at approximately $124,000. XTX Topco Ltd purchased a new position in shares of Grid Dynamics during the 2nd quarter worth approximately $129,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Grid Dynamics during the 2nd quarter worth approximately $141,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Stock Up 0.3 %

Grid Dynamics stock opened at $14.05 on Wednesday. The firm has a market cap of $1.08 billion, a PE ratio of 468.33 and a beta of 1.06. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $14.70. The company’s 50 day moving average is $13.46 and its two-hundred day moving average is $11.66.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share.

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.