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

Grid Dynamics (NASDAQ:GDYN) had its target price boosted by TD Cowen from $16.00 to $19.00 in a research report released on Friday morning, Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC boosted their price target on Grid Dynamics from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Cantor Fitzgerald raised Grid Dynamics to a “strong-buy” rating in a research report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.50.

Grid Dynamics Price Performance

GDYN traded down $0.68 during trading on Friday, reaching $15.24. 957,659 shares of the stock traded hands, compared to its average volume of 336,223. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -1,522.48 and a beta of 1.06. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $17.66. The stock’s 50-day simple moving average is $14.45 and its two-hundred day simple moving average is $12.20.

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

Insider Transactions at Grid Dynamics

In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the transaction, the insider now directly owns 13,889,183 shares in the company, valued at $177,781,542.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $14.56, for a total value of $218,400.00. Following the transaction, the chief executive officer now owns 3,460,901 shares in the company, valued at $50,390,718.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 958,387 shares of company stock worth $12,311,004. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its stake in shares of Grid Dynamics by 21.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares during the period. Hsbc Holdings PLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at approximately $117,000. ProShare Advisors LLC bought a new stake in shares of Grid Dynamics in the 1st quarter valued at approximately $124,000. XTX Topco Ltd bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at approximately $129,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in shares of Grid Dynamics in the 2nd quarter valued at approximately $141,000. 71.18% of the stock is currently owned by institutional investors.

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.