Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Rating of "Buy" by Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) has been assigned an average rating of "Buy" from the six ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $17.50.

GDYN has been the subject of several research reports. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a "buy" rating in a report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price 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 raised their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Cantor Fitzgerald upgraded Grid Dynamics to a "strong-buy" rating in a research report on Monday, August 12th. Finally, TD Cowen boosted their price objective 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

NASDAQ GDYN traded down $1.05 during mid-day trading on Thursday, reaching $17.03. The stock had a trading volume of 1,262,336 shares, compared to its average volume of 359,899. The stock has a market cap of $1.31 billion, a PE ratio of 602.87 and a beta of 1.04. Grid Dynamics has a 1 year low of $9.07 and a 1 year high of $19.86. The company has a fifty day moving average price of $15.08 and a 200 day moving average price of $12.63.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $85.09 million. During the same period last year, the firm posted $0.08 earnings per share. Grid Dynamics's revenue was up 12.9% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the completion of the transaction, the chief financial officer now owns 376,282 shares in the company, valued at approximately $6,645,140.12. This trade 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. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the sale, the insider now owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. This trade represents a 6.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 950,387 shares of company stock valued at $12,239,324 in the last quarter. 7.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company's stock worth $40,000 after buying an additional 801 shares during the last quarter. Mirador Capital Partners LP lifted its holdings in shares of Grid Dynamics by 0.8% in the 2nd quarter. Mirador Capital Partners LP now owns 123,399 shares of the company's stock worth $1,297,000 after acquiring an additional 954 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Grid Dynamics by 5.6% during 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. grew its holdings in Grid Dynamics by 5.0% during the 3rd quarter. Trust Point Inc. now owns 32,290 shares of the company's stock valued at $452,000 after purchasing an additional 1,532 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in Grid Dynamics by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company's stock worth $1,119,000 after purchasing an additional 1,735 shares during the period. 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.