Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Rating of “Buy” from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned an average rating of “Buy” from the six research firms that are covering the company, Marketbeat.com reports. Five equities 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 target price among brokers that have covered the stock in the last year is $15.67.

GDYN has been the topic of a number of recent research reports. Cantor Fitzgerald raised shares of Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. TD Cowen raised shares of Grid Dynamics from a “hold” rating to a “buy” rating and raised their target price for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Needham & Company LLC raised their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Citigroup cut their target price on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, July 12th.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $11.63, for a total value of $116,300.00. Following the sale, the chief executive officer now owns 3,555,901 shares of the company’s stock, valued at approximately $41,355,128.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $11.63, for a total value of $116,300.00. Following the completion of the transaction, the chief executive officer now owns 3,555,901 shares of the company’s stock, valued at $41,355,128.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s 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. The disclosure for this sale can be found here. Insiders have sold 956,387 shares of company stock valued at $12,247,814 over the last three months. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GDYN. Olympiad Research LP bought a new stake in Grid Dynamics during the 4th quarter worth $211,000. CenterBook Partners LP bought a new stake in shares of Grid Dynamics during the fourth quarter worth about $651,000. Wasatch Advisors LP increased its stake in shares of Grid Dynamics by 2.8% in the fourth quarter. Wasatch Advisors LP now owns 7,256,928 shares of the company’s stock valued at $96,735,000 after buying an additional 197,063 shares during the period. G2 Investment Partners Management LLC bought a new position in Grid Dynamics in the 4th quarter valued at approximately $2,234,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Grid Dynamics by 6.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 84,379 shares of the company’s stock worth $1,125,000 after buying an additional 5,328 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

Grid Dynamics Stock Down 0.3 %

Shares of GDYN stock opened at $13.96 on Wednesday. Grid Dynamics has a 12-month low of $9.07 and a 12-month high of $14.70. The company has a market capitalization of $1.07 billion, a PE ratio of 465.33 and a beta of 1.06. The firm has a 50 day moving average price of $13.54 and a two-hundred day moving average price of $11.68.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS.

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.