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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have earned a consensus rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.60.

Separately, Needham & Company LLC raised their target price on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, February 21st.

Insider Buying and Selling

In related news, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now directly owns 343,012 shares of the company’s stock, valued at $7,587,425.44. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total value of $33,540.00. Following the completion of the sale, the chief operating officer now owns 480,759 shares in the company, valued at $8,062,328.43. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,306 shares of company stock worth $376,590 in the last ninety days. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MCF Advisors LLC increased its position in Grid Dynamics by 65.8% during the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock valued at $41,000 after purchasing an additional 740 shares during the period. FMR LLC increased its position in shares of Grid Dynamics by 38.7% during the third quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares during the period. Harbor Capital Advisors Inc. raised its stake in Grid Dynamics by 10.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,903 shares of the company’s stock worth $242,000 after buying an additional 1,036 shares during the last quarter. State of Wyoming lifted its holdings in Grid Dynamics by 4.1% in the fourth quarter. State of Wyoming now owns 26,495 shares of the company’s stock valued at $589,000 after buying an additional 1,046 shares during the period. Finally, Coppell Advisory Solutions LLC bought a new stake in Grid Dynamics during the fourth quarter valued at $25,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Performance

Grid Dynamics stock opened at $16.68 on Wednesday. Grid Dynamics has a 52 week low of $9.07 and a 52 week high of $25.50. The stock has a market capitalization of $1.40 billion, a P/E ratio of 417.00 and a beta of 1.10. The stock has a fifty day moving average of $20.23 and a 200-day moving average of $18.34.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, February 20th. The company reported $0.04 EPS 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 analyst estimates of $96.00 million. On average, research analysts forecast that Grid Dynamics will post 0.18 earnings per share for the current year.

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.