Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report)'s stock price reached a new 52-week high on Friday after Needham & Company LLC raised their price target on the stock from $25.00 to $30.00. Needham & Company LLC currently has a buy rating on the stock. Grid Dynamics traded as high as $25.50 and last traded at $23.90, with a volume of 347254 shares traded. The stock had previously closed at $20.48.
Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted 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 lifted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, TD Cowen upped their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $19.17.
Check Out Our Latest Stock Report on Grid Dynamics
Insider Activity at Grid Dynamics
In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now owns 343,012 shares of the company's stock, valued at approximately $7,587,425.44. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 8,000 shares of company stock valued at $171,780 over the last ninety days. 7.20% of the stock is owned by company insiders.
Institutional Investors Weigh In On Grid Dynamics
Hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics in the fourth quarter valued at about $25,000. Global Retirement Partners LLC bought a new stake in shares of Grid Dynamics in the 4th quarter valued at about $27,000. FMR LLC boosted its holdings 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 buying an additional 801 shares in the last quarter. MCF Advisors LLC grew its position in shares of Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company's stock worth $41,000 after buying an additional 740 shares during the last quarter. Finally, Johnson Financial Group Inc. bought a new position in shares of Grid Dynamics during the 4th quarter worth approximately $70,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.
Grid Dynamics Price Performance
The company has a market cap of $1.68 billion, a PE ratio of 508.00 and a beta of 1.01. The stock's 50-day moving average is $21.65 and its 200 day moving average is $17.72.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. On average, analysts expect that Grid Dynamics Holdings, Inc. will post 0.18 EPS for the current year.
About Grid Dynamics
(
Get Free Report)
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.
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