Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Recommendation of "Buy" from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) have been given an average recommendation of "Buy" by the six ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.33.

Several analysts recently issued reports on the company. Needham & Company LLC boosted their price target on Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. 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. Citigroup boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a report on Monday, October 28th. Finally, TD Cowen lifted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Friday, November 1st.

Grid Dynamics Price Performance

Grid Dynamics stock traded up $0.22 during mid-day trading on Tuesday, hitting $21.49. 679,487 shares of the company's stock traded hands, compared to its average volume of 698,782. The firm has a 50 day simple moving average of $20.16 and a two-hundred day simple moving average of $16.33. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $24.16. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 716.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $87.40 million during the quarter, compared to analysts' expectations of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. Grid Dynamics's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.08 EPS. On average, research analysts anticipate that Grid Dynamics will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the sale, the chief financial officer now directly owns 343,012 shares in the company, valued at approximately $7,587,425.44. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 13,000 shares of company stock worth $247,220 over the last three months. Insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Grid Dynamics during the fourth quarter valued at about $775,000. Yousif Capital Management LLC acquired a new stake in Grid Dynamics during the 4th quarter worth approximately $526,000. Trust Point Inc. grew its holdings in Grid Dynamics by 7.9% during the 4th quarter. Trust Point Inc. now owns 34,832 shares of the company's stock worth $775,000 after acquiring an additional 2,542 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Grid Dynamics in the 4th quarter valued at approximately $222,000. Finally, SG Americas Securities LLC bought a new position in shares of Grid Dynamics during the fourth quarter valued at $242,000. Institutional investors own 71.18% of the company's stock.

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.