Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $18.33 Consensus Price Target from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned an average recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.33.

Several research firms have weighed in on GDYN. TD Cowen boosted their price target on Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC increased their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup raised their price target on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th.

Grid Dynamics Stock Up 0.1 %

Grid Dynamics stock opened at $22.59 on Tuesday. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $24.16. The business has a fifty day moving average of $20.54 and a two-hundred day moving average of $16.56. The firm has a market cap of $1.86 billion, a P/E ratio of 753.25 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Grid Dynamics had a return on equity of 0.15% and a net margin of 0.74%. The company had revenue of $87.40 million for the quarter, compared to the consensus estimate of $85.09 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. Equities analysts expect that Grid Dynamics will post 0.03 earnings per share for the current year.

Insider Activity

In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.66, for a total transaction of $70,640.00. Following the completion of the transaction, the chief financial officer now directly owns 376,282 shares in the company, valued at approximately $6,645,140.12. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 10,000 shares of company stock worth $194,240 in the last quarter. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of GDYN. Global Retirement Partners LLC purchased a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $27,000. FMR LLC lifted its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after purchasing an additional 801 shares in the last quarter. MCF Advisors LLC boosted its stake in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after purchasing an additional 740 shares during the last quarter. Quarry LP grew its holdings in shares of Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after buying an additional 2,974 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Grid Dynamics in the second quarter valued at about $117,000. 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.