Cantor Fitzgerald Comments on Grid Dynamics Holdings, Inc.’s FY2023 Earnings (NASDAQ:GDYN)

Grid Dynamics Holdings, Inc. (NASDAQ:GDYNGet Rating) – Analysts at Cantor Fitzgerald issued their FY2023 earnings per share estimates for shares of Grid Dynamics in a report released on Monday, June 6th. Cantor Fitzgerald analyst J. Siegler anticipates that the company will earn $0.68 per share for the year.

Grid Dynamics (NASDAQ:GDYNGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $71.41 million during the quarter, compared to analysts’ expectations of $65.07 million. Grid Dynamics had a negative net margin of 3.41% and a positive return on equity of 12.79%. The business’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share.

Several other research analysts have also recently weighed in on the stock. Needham & Company LLC upped their price target on shares of Grid Dynamics from $22.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, April 7th. Citigroup upped their price target on shares of Grid Dynamics from $20.00 to $23.00 in a report on Friday, May 6th. Zacks Investment Research cut shares of Grid Dynamics from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Northland Securities increased their target price on shares of Grid Dynamics from $22.50 to $25.00 in a report on Monday, May 9th. Finally, TheStreet cut shares of Grid Dynamics from a “c-” rating to a “d+” rating in a report on Wednesday, March 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.75.

Grid Dynamics stock opened at $19.51 on Thursday. The stock has a market capitalization of $1.31 billion, a PE ratio of -150.08 and a beta of 1.02. Grid Dynamics has a twelve month low of $9.09 and a twelve month high of $42.81. The company has a quick ratio of 6.32, a current ratio of 6.32 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average of $15.99 and a 200-day moving average of $22.66.

In related news, Director Patrick Nicolet acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were bought at an average cost of $16.42 per share, with a total value of $164,200.00. Following the completion of the transaction, the director now directly owns 14,290 shares of the company’s stock, valued at $234,641.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric Benhamou acquired 23,500 shares of the company’s stock in a transaction dated Wednesday, March 16th. The stock was bought at an average cost of $10.88 per share, for a total transaction of $255,680.00. The disclosure for this purchase can be found here. Corporate insiders own 11.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its stake in Grid Dynamics by 101.7% during the first quarter. Wasatch Advisors Inc. now owns 5,128,874 shares of the company’s stock worth $72,215,000 after buying an additional 2,585,803 shares in the last quarter. Toronado Partners LLC boosted its stake in shares of Grid Dynamics by 166.5% in the 1st quarter. Toronado Partners LLC now owns 2,117,679 shares of the company’s stock valued at $29,817,000 after purchasing an additional 1,323,046 shares in the last quarter. Morgan Stanley boosted its stake in shares of Grid Dynamics by 604,155.8% in the 2nd quarter. Morgan Stanley now owns 725,107 shares of the company’s stock valued at $10,897,000 after purchasing an additional 724,987 shares in the last quarter. Next Century Growth Investors LLC boosted its stake in shares of Grid Dynamics by 107.2% in the 1st quarter. Next Century Growth Investors LLC now owns 1,349,807 shares of the company’s stock valued at $19,005,000 after purchasing an additional 698,500 shares in the last quarter. Finally, MSD Partners L.P. boosted its stake in shares of Grid Dynamics by 35.7% in the 3rd quarter. MSD Partners L.P. now owns 1,330,340 shares of the company’s stock valued at $38,873,000 after purchasing an additional 350,340 shares in the last quarter. 65.42% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Company Profile (Get Rating)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

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