Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Recommendation of “Buy” from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.17.

GDYN has been the topic of a number of recent research reports. Citigroup boosted their price objective on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. TD Cowen boosted their price objective on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 1st. Needham & Company LLC upped their price target on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th.

Grid Dynamics Stock Up 4.3 %

Grid Dynamics stock opened at $21.37 on Friday. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $25.50. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 712.57 and a beta of 1.01. The stock has a 50-day moving average price of $21.64 and a 200 day moving average price of $17.62.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $100.28 million during the quarter, compared to analysts’ expectations of $96.00 million. Research analysts anticipate that Grid Dynamics will post 0.04 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $19.08, for a total transaction of $57,240.00. Following the sale, the chief financial officer now owns 373,282 shares in the company, valued at $7,122,220.56. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 8,000 shares of company stock worth $171,780. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GDYN. Coppell Advisory Solutions LLC bought a new stake in shares of Grid Dynamics during the 4th quarter worth $25,000. Global Retirement Partners LLC purchased a new stake in shares of Grid Dynamics during the fourth quarter worth $27,000. FMR LLC increased its position in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares during the last quarter. MCF Advisors LLC increased its position in Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after buying an additional 740 shares during the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Grid Dynamics in the fourth quarter valued at about $70,000. 71.18% of the stock is owned by institutional investors.

About Grid Dynamics

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.