Research Analysts Set Expectations for Grid Dynamics Holdings, Inc.’s FY2024 Earnings (NASDAQ:GDYN)

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) – Equities researchers at Cantor Fitzgerald issued their FY2024 earnings estimates for shares of Grid Dynamics in a note issued to investors on Monday, August 12th. Cantor Fitzgerald analyst Y. Lee expects that the company will post earnings per share of $0.04 for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Grid Dynamics’ current full-year earnings is $0.02 per share.

Other analysts have also recently issued reports about the company. TD Cowen raised Grid Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Grid Dynamics in a report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. 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 note on Friday, July 12th. Finally, Needham & Company LLC upped their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.33.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $13.43 on Wednesday. The company has a market capitalization of $1.03 billion, a P/E ratio of 447.67 and a beta of 1.05. The business has a 50-day moving average of $11.36 and a two-hundred day moving average of $11.60. Grid Dynamics has a 1 year low of $9.07 and a 1 year high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, topping 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 company 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 business’s quarterly revenue was up 7.4% compared to the same quarter last year.

Insider Buying and Selling

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total transaction of $195,300.00. Following the transaction, the chief executive officer now owns 3,520,901 shares of the company’s stock, valued at approximately $45,842,131.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Shuo Zhang sold 4,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $9.34, for a total value of $37,360.00. Following the completion of the sale, the director now directly owns 22,015 shares in the company, valued at approximately $205,620.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total value of $195,300.00. Following the transaction, the chief executive officer now owns 3,520,901 shares of the company’s stock, valued at approximately $45,842,131.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,000 shares of company stock worth $843,160. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of large investors have recently added to or reduced their stakes in GDYN. International Assets Investment Management LLC acquired a new position in shares of Grid Dynamics in the fourth quarter valued at $26,000. Harbor Capital Advisors Inc. grew its stake in Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after buying an additional 1,770 shares during the last quarter. ProShare Advisors LLC acquired a new position in Grid Dynamics in the 1st quarter valued at about $124,000. Hsbc Holdings PLC acquired a new stake in Grid Dynamics during the second quarter worth approximately $117,000. Finally, XTX Topco Ltd acquired a new stake in Grid Dynamics during the second quarter worth approximately $129,000. 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.