Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $15.67

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.67.

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

Grid Dynamics Stock Performance

Shares of NASDAQ:GDYN opened at $15.64 on Friday. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $15.80. The business’s 50 day simple moving average is $14.24 and its two-hundred day simple moving average is $12.04. The firm has a market cap of $1.20 billion, a P/E ratio of 521.33 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last posted 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. Grid Dynamics had a negative net margin of 0.37% and a positive return on equity of 1.05%. The business had revenue of $83.04 million during the quarter, compared to the consensus estimate of $81.06 million. During the same quarter last year, the firm posted $0.09 EPS. Grid Dynamics’s revenue was up 7.4% compared to the same quarter last year.

Insider Buying and Selling

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.80, for a total value of $11,691,353.60. Following the sale, the insider now directly owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Anil Doradla sold 3,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $12.97, for a total value of $38,910.00. Following the completion of the transaction, the chief financial officer now owns 369,282 shares of the company’s stock, valued at approximately $4,789,587.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.80, for a total value of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares of the company’s stock, valued at $177,781,542.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 961,387 shares of company stock valued at $12,349,914 over the last three months. 7.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its stake in shares of Grid Dynamics by 4.9% in the first quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock worth $93,585,000 after purchasing an additional 357,785 shares during the last quarter. Vanguard Group Inc. raised its stake in Grid Dynamics by 1.6% during 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 lifted its holdings in shares of Grid Dynamics by 1.2% during the 1st quarter. Jennison Associates LLC now owns 2,339,142 shares of the company’s stock valued at $28,748,000 after buying an additional 26,974 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Grid Dynamics by 26.7% during the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after buying an additional 396,320 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Grid Dynamics by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,672,906 shares of the company’s stock worth $17,581,000 after acquiring an additional 206,201 shares during the period. Hedge funds and other institutional investors 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.