Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Rating of "Buy" from Analysts

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

A number of brokerages have issued reports on GDYN. Citigroup raised their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, October 28th. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a "buy" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price 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. Finally, TD Cowen boosted their price target on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a report on Friday, November 1st.

Insider Activity

In other news, CFO Anil Doradla sold 3,000 shares of the business'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 sale, the chief financial officer now directly owns 373,282 shares in the company, valued at $7,122,220.56. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the company's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total value of $218,400.00. Following the transaction, the chief executive officer now directly owns 3,460,901 shares of the company's stock, valued at $50,390,718.56. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $399,260 over the last quarter. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of Grid Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in GDYN. Wellington Management Group LLP increased its position in shares of Grid Dynamics by 30.9% in the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock valued at $40,037,000 after acquiring an additional 675,419 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company's stock worth $17,581,000 after purchasing an additional 206,201 shares during the last quarter. State Street Corp increased its position in shares of Grid Dynamics by 0.5% during the 3rd quarter. State Street Corp now owns 1,446,130 shares of the company's stock worth $20,246,000 after purchasing an additional 6,938 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Grid Dynamics by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,381,429 shares of the company's stock worth $19,344,000 after purchasing an additional 17,763 shares in the last quarter. Finally, Summit Creek Advisors LLC boosted its holdings in shares of Grid Dynamics by 25.1% in the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company's stock valued at $12,065,000 after buying an additional 230,688 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Trading Down 0.4 %

Shares of GDYN traded down $0.09 on Friday, reaching $21.91. 1,096,424 shares of the company's stock were exchanged, compared to its average volume of 1,176,562. The business has a 50 day moving average price of $18.66 and a two-hundred day moving average price of $14.95. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $24.16. The stock has a market capitalization of $1.81 billion, a P/E ratio of 730.58 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $0.10 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 company had revenue of $87.40 million during the quarter, compared to analysts' expectations of $85.09 million. During the same quarter in the previous year, the company posted $0.08 EPS. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. Equities research analysts predict that Grid Dynamics will post 0.03 EPS for the current year.

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.