Grid Dynamics (NASDAQ:GDYN) PT Raised to $17.00 at JPMorgan Chase & Co.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) had its price objective upped by analysts at JPMorgan Chase & Co. from $15.00 to $17.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 23.64% from the company's previous close.

Several other research firms have also recently commented on GDYN. Citigroup decreased their price target on shares of Grid Dynamics from $15.00 to $14.00 and set a "buy" rating for the company in a report on Friday, July 12th. Cantor Fitzgerald raised shares of Grid Dynamics to a "strong-buy" rating in a research note on Monday, August 12th. TD Cowen raised shares of Grid Dynamics from a "hold" rating to a "buy" rating and upped their price target for the stock from $12.00 to $16.00 in a research note on Friday, August 2nd. Needham & Company LLC lifted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Grid Dynamics in a research report on Thursday, May 23rd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Grid Dynamics currently has a consensus rating of "Buy" and an average price target of $15.67.

Grid Dynamics Trading Down 2.2 %

Shares of Grid Dynamics stock traded down $0.31 on Friday, reaching $13.75. 298,918 shares of the company were exchanged, compared to its average volume of 339,959. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $14.70. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 455.67 and a beta of 1.06. The stock has a fifty day moving average price of $12.53 and a 200-day moving average price of $11.61.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.01. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The firm had revenue of $83.04 million during the quarter, compared to analyst estimates of $81.06 million. During the same quarter last year, the business posted $0.09 EPS. The company's revenue was up 7.4% on a year-over-year basis. On average, equities analysts anticipate that Grid Dynamics will post 0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $13.02, for a total value of $195,300.00. Following the transaction, the chief executive officer now directly owns 3,520,901 shares of the company's stock, valued at approximately $45,842,131.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the firm's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $10.00, for a total value of $30,000.00. Following the sale, the chief financial officer now directly owns 375,282 shares in the company, valued at approximately $3,752,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the transaction, the chief executive officer now directly owns 3,520,901 shares of the company's stock, valued at approximately $45,842,131.02. The disclosure for this sale can be found here. Insiders have sold 54,000 shares of company stock valued at $612,200 over the last three months. 7.40% of the stock is currently owned by insiders.

Institutional Trading of Grid Dynamics

Institutional investors have recently modified their holdings of the company. Mirador Capital Partners LP boosted its holdings in Grid Dynamics by 0.8% during the second quarter. Mirador Capital Partners LP now owns 123,399 shares of the company's stock valued at $1,297,000 after purchasing an additional 954 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company's stock valued at $235,000 after buying an additional 1,184 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in Grid Dynamics by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company's stock valued at $1,119,000 after acquiring an additional 1,735 shares during the period. Harbor Capital Advisors Inc. raised its stake in Grid Dynamics by 21.3% during the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company's stock worth $106,000 after acquiring an additional 1,770 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Grid Dynamics by 8.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company's stock valued at $314,000 after acquiring an additional 1,985 shares during the period. Institutional investors and hedge funds 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.