Grid Dynamics (NASDAQ:GDYN) PT Lowered to $15.00

Grid Dynamics (NASDAQ:GDYN) had its price target reduced by JPMorgan Chase & Co. from $17.00 to $15.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently weighed in on GDYN. Cantor Fitzgerald upped their price target on Grid Dynamics from $14.00 to $17.00 and gave the stock an overweight rating in a research note on Wednesday, March 13th. Citigroup reduced their price target on Grid Dynamics from $17.00 to $15.00 and set a buy rating for the company in a report on Monday, April 22nd. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $15.75.

Grid Dynamics Trading Up 2.3 %

Shares of NASDAQ:GDYN opened at $10.07 on Thursday. The company has a 50-day moving average price of $11.74 and a 200-day moving average price of $12.34. The company has a market cap of $765.06 million, a price-to-earnings ratio of 335.67 and a beta of 1.00. Grid Dynamics has a 12 month low of $8.00 and a 12 month high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The company had revenue of $78.07 million during the quarter, compared to the consensus estimate of $76.64 million. Grid Dynamics had a net margin of 0.72% and a return on equity of 3.33%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.14 EPS. As a group, research analysts forecast that Grid Dynamics will post 0.07 EPS for the current fiscal year.

Insiders Place Their Bets

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total value of $30,000.00. Following the sale, the chief financial officer now directly owns 385,979 shares in the company, valued at approximately $3,859,790. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total value of $30,000.00. Following the sale, the chief financial officer now owns 385,979 shares of the company’s stock, valued at approximately $3,859,790. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total transaction of $208,200.00. Following the completion of the sale, the chief executive officer now owns 3,760,474 shares in the company, valued at approximately $52,195,379.12. The disclosure for this sale can be found here. Insiders sold 88,884 shares of company stock worth $1,099,255 in the last three months. 7.40% of the stock is owned by company insiders.

Institutional Trading of Grid Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Grid Dynamics in the 4th quarter valued at about $26,000. SG Americas Securities LLC purchased a new stake in shares of Grid Dynamics in the third quarter valued at approximately $142,000. American Trust grew its stake in Grid Dynamics by 10.1% in the third quarter. American Trust now owns 12,963 shares of the company’s stock worth $158,000 after purchasing an additional 1,186 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new position in Grid Dynamics during the 3rd quarter worth $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Grid Dynamics by 147.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock worth $203,000 after purchasing an additional 9,081 shares during the period. 71.18% of the stock is owned by hedge funds and other institutional investors.

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.