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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $19.17.

Several brokerages recently weighed in on GDYN. TD Cowen boosted their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Needham & Company LLC boosted their target price on Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, February 21st.

Grid Dynamics Trading Down 1.5 %

GDYN opened at $18.82 on Friday. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $25.50. The stock has a fifty day moving average price of $21.61 and a 200-day moving average price of $17.84. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 470.50 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $96.00 million. On average, equities research analysts forecast that Grid Dynamics will post 0.18 EPS for the current year.

Insider Buying and Selling at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the sale, the chief financial officer now owns 343,012 shares in the company, valued at approximately $7,587,425.44. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 8,000 shares of company stock worth $171,780. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Grid Dynamics

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Grid Dynamics by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock valued at $123,110,000 after buying an additional 1,171,481 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Grid Dynamics by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after buying an additional 675,419 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of Grid Dynamics in the 4th quarter valued at about $55,114,000. Dimensional Fund Advisors LP lifted its holdings in shares of Grid Dynamics by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company’s stock valued at $40,399,000 after buying an additional 17,881 shares during the period. Finally, Next Century Growth Investors LLC lifted its holdings in shares of Grid Dynamics by 78.1% in the 4th quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company’s stock valued at $36,078,000 after buying an additional 711,150 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.