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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned a consensus rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $18.33.

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

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 3,000 shares of the firm’s 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 owns 373,282 shares in the company, valued at $7,122,220.56. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 10,000 shares of company stock valued at $194,240 in the last 90 days. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Grid Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the 4th quarter valued at about $27,000. FMR LLC grew its holdings in shares of Grid Dynamics by 38.7% during 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 during the last quarter. MCF Advisors LLC increased its holdings in Grid Dynamics by 65.8% in 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 in the last quarter. Quarry LP raised its stake in shares of Grid Dynamics by 131.5% during the third quarter. Quarry LP now owns 5,236 shares of the company’s stock valued at $73,000 after acquiring an additional 2,974 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in shares of Grid Dynamics in the second quarter worth approximately $117,000. 71.18% of the stock is owned by institutional investors.

Grid Dynamics Trading Up 0.8 %

Shares of Grid Dynamics stock opened at $22.76 on Tuesday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 758.92 and a beta of 1.01. The firm has a fifty day simple moving average of $20.54 and a 200-day simple moving average of $16.63. Grid Dynamics has a 1-year low of $9.07 and a 1-year high of $24.16.

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.