Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $17.50

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given a consensus rating of “Buy” by the six ratings firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $17.50.

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of 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 lifted their price objective on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price target on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 1st.

Grid Dynamics Price Performance

Grid Dynamics stock opened at $19.63 on Monday. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $20.34. The stock has a market capitalization of $1.62 billion, a PE ratio of 666.67 and a beta of 1.06. The business has a 50 day simple moving average of $16.71 and a 200-day simple moving average of $13.70.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. During the same period last year, the firm posted $0.08 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $19.08, for a total value of $57,240.00. Following the completion of the transaction, the chief financial officer now directly owns 373,282 shares of the company’s stock, valued at $7,122,220.56. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the sale, the chief executive officer now directly owns 3,460,901 shares in the company, valued at $50,390,718.56. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $605,210 over the last 90 days. 7.20% of the stock is owned by insiders.

Institutional Trading of Grid Dynamics

A number of large investors have recently modified their holdings of GDYN. Price T Rowe Associates Inc. MD grew its holdings in Grid Dynamics by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock worth $314,000 after acquiring an additional 1,985 shares in the last quarter. Comerica Bank grew its stake in shares of Grid Dynamics by 198.8% in the 1st quarter. Comerica Bank now owns 77,820 shares of the company’s stock valued at $956,000 after purchasing an additional 51,778 shares during the last quarter. Nicholas Company Inc. increased its stake in Grid Dynamics by 7.3% in the 2nd quarter. Nicholas Company Inc. now owns 368,121 shares of the company’s stock valued at $3,869,000 after buying an additional 24,986 shares during the period. Bank of New York Mellon Corp raised its position in Grid Dynamics by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,095 shares of the company’s stock worth $2,523,000 after buying an additional 20,989 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Grid Dynamics by 17.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock worth $188,000 after acquiring an additional 2,673 shares during the period. Hedge funds and other 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.