Grid Dynamics (NASDAQ:GDYN - Get Free Report) had its target price lifted by Needham & Company LLC from $25.00 to $30.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 47.64% from the company's previous close.
Other research analysts also recently issued 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 stock an "overweight" rating in a research note on Wednesday, October 30th. Citigroup lifted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, TD Cowen raised their price objective on Grid Dynamics from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Grid Dynamics has an average rating of "Buy" and a consensus price target of $19.17.
View Our Latest Analysis on Grid Dynamics
Grid Dynamics Trading Up 2.1 %
Shares of Grid Dynamics stock traded up $0.42 on Friday, hitting $20.32. 883,802 shares of the company traded hands, compared to its average volume of 788,961. Grid Dynamics has a 12-month low of $9.07 and a 12-month high of $25.50. The company has a market cap of $1.68 billion, a P/E ratio of 508.00 and a beta of 1.01. The firm's 50-day simple moving average is $21.65 and its 200 day simple moving average is $17.72.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings results 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 net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.28 million for the quarter, compared to analysts' expectations of $96.00 million. Analysts predict that Grid Dynamics will post 0.18 earnings per share for the current year.
Insider Buying and Selling at Grid Dynamics
In related news, CFO Anil Doradla sold 3,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 343,012 shares in the company, valued at $7,587,425.44. This represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 8,000 shares of company stock worth $171,780. 7.20% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in GDYN. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after buying an additional 1,171,481 shares during the period. Wellington Management Group LLP grew its holdings in shares of Grid Dynamics by 30.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company's stock worth $40,037,000 after acquiring an additional 675,419 shares during the period. Loomis Sayles & Co. L P bought a new position in shares of Grid Dynamics in the 4th quarter worth approximately $55,114,000. Dimensional Fund Advisors LP lifted its stake in shares of Grid Dynamics by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company's stock valued at $40,399,000 after purchasing an additional 17,881 shares during the period. Finally, Next Century Growth Investors LLC boosted its position in shares of Grid Dynamics by 78.1% during the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company's stock valued at $36,078,000 after purchasing an additional 711,150 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.
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.
Further Reading
Before you consider Grid Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grid Dynamics wasn't on the list.
While Grid Dynamics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
