Grid Dynamics (NASDAQ:GDYN) Price Target Raised to $19.00 at TD Cowen

Grid Dynamics (NASDAQ:GDYN - Get Free Report) had its price objective increased by equities researchers at TD Cowen from $16.00 to $19.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 24.67% from the stock's current price.

A number of other research firms also recently issued reports on GDYN. Needham & Company LLC upped their target price on shares of Grid Dynamics from $17.00 to $20.00 and gave the company a "buy" rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald upgraded Grid Dynamics to a "strong-buy" rating in a report on Monday, August 12th. Finally, Citigroup raised their target price on Grid Dynamics from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Monday. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $17.50.

Grid Dynamics Stock Down 4.3 %

GDYN traded down $0.68 during trading on Friday, reaching $15.24. 957,641 shares of the company's stock were exchanged, compared to its average volume of 336,223. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $17.66. The company has a market capitalization of $1.17 billion, a P/E ratio of -1,522.48 and a beta of 1.06. The business has a 50 day moving average price of $14.45 and a 200 day moving average price of $12.20.

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. The company had revenue of $83.04 million for the quarter, compared to analyst estimates of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The business's revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share.

Insider Activity

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total transaction of $218,400.00. Following the completion of the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total value of $218,400.00. Following the sale, the chief executive officer now owns 3,460,901 shares in the company, valued at approximately $50,390,718.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of Grid Dynamics stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the sale, the insider now owns 13,889,183 shares in the company, valued at $177,781,542.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 958,387 shares of company stock worth $12,311,004 over the last quarter. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Grid Dynamics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,202,012 shares of the company's stock valued at $51,643,000 after buying an additional 64,300 shares during the last quarter. Jennison Associates LLC grew its position in shares of Grid Dynamics by 1.2% in the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company's stock valued at $28,748,000 after acquiring an additional 26,974 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Grid Dynamics by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company's stock worth $17,581,000 after purchasing an additional 206,201 shares during the last quarter. Summit Creek Advisors LLC raised its holdings in shares of Grid Dynamics by 25.1% in the 2nd quarter. Summit Creek Advisors LLC now owns 1,147,992 shares of the company's stock valued at $12,065,000 after purchasing an additional 230,688 shares during the period. Finally, Fourth Sail Capital LP lifted its stake in Grid Dynamics by 138.0% in the 2nd quarter. Fourth Sail Capital LP now owns 769,924 shares of the company's stock valued at $8,092,000 after purchasing an additional 446,477 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.