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

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

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

Grid Dynamics Stock Performance

GDYN opened at $21.12 on Friday. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $24.16. The firm has a 50-day moving average of $19.23 and a 200 day moving average of $15.36. The firm has a market cap of $1.74 billion, a P/E ratio of 704.23 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $87.40 million during the quarter, compared to analyst estimates of $85.09 million. During the same quarter last year, the business posted $0.08 EPS. Grid Dynamics’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts predict that Grid Dynamics will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $17.66, for a total transaction of $52,980.00. Following the completion of the sale, the chief financial officer now owns 380,282 shares of the company’s stock, valued at $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 13,000 shares of company stock worth $247,220. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently modified their holdings of the company. FMR LLC grew its position in Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after acquiring an additional 801 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock worth $235,000 after purchasing an additional 1,184 shares during the period. Trust Point Inc. lifted its stake in Grid Dynamics by 5.0% in the third quarter. Trust Point Inc. now owns 32,290 shares of the company’s stock worth $452,000 after purchasing an additional 1,532 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Grid Dynamics by 17.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,919 shares of the company’s stock valued at $188,000 after buying an additional 2,673 shares during the period. Finally, Quarry LP grew 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 buying an additional 2,974 shares during the last quarter. 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.