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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) has been assigned an average recommendation of "Buy" from the six brokerages that are presently covering the company, MarketBeat.com reports. Five 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 updated their coverage on the stock in the last year is $19.17.

Several equities analysts recently commented on GDYN shares. JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Citigroup raised their price target on shares of 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 $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday. Finally, TD Cowen raised their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Friday, November 1st.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $19.08, for a total transaction of $57,240.00. Following the sale, the chief financial officer now directly owns 373,282 shares of the company's stock, valued at approximately $7,122,220.56. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 8,000 shares of company stock valued at $171,780 over the last 90 days. Insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently modified their holdings of GDYN. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC purchased a new position in shares of Grid Dynamics during the 4th quarter valued at approximately $27,000. FMR LLC lifted its stake in shares of Grid Dynamics by 38.7% in 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 period. MCF Advisors LLC boosted its holdings in Grid Dynamics by 65.8% during the fourth quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after buying an additional 740 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in Grid Dynamics during the fourth quarter valued at $70,000. Institutional investors and hedge funds own 71.18% of the company's stock.

Grid Dynamics Stock Performance

GDYN traded up $0.50 during trading on Friday, hitting $20.40. The stock had a trading volume of 366,114 shares, compared to its average volume of 773,838. The stock has a 50 day simple moving average of $21.65 and a two-hundred day simple moving average of $17.72. The company has a market capitalization of $1.68 billion, a PE ratio of 508.58 and a beta of 1.01. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. On average, equities research analysts anticipate that Grid Dynamics will post 0.18 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.