Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Has Average Price Target of $9.40 According to Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.40.

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Needham & Company LLC boosted their target price on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. TD Cowen upped their price target on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research note on Friday, July 31st.

Grid Dynamics Stock Performance

Shares of GDYN opened at $8.02 on Friday. Grid Dynamics has a 52 week low of $5.11 and a 52 week high of $10.21. The stock has a market capitalization of $650.66 million, a price-to-earnings ratio of 401.20 and a beta of 0.97. The stock has a fifty day moving average of $7.69 and a 200-day moving average of $6.65.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The business had revenue of $108.16 million during the quarter, compared to analysts’ expectations of $106.55 million. As a group, equities analysts forecast that Grid Dynamics will post 0.2 EPS for the current year.

Insiders Place Their Bets

In related news, COO Yury Gryzlov sold 3,918 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $8.00, for a total value of $31,344.00. Following the completion of the sale, the chief operating officer directly owned 503,070 shares in the company, valued at $4,024,560. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,315 shares of company stock valued at $66,301 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors have recently made changes to their positions in GDYN. S Squared Technology LLC raised its position in shares of Grid Dynamics by 109.3% during the fourth quarter. S Squared Technology LLC now owns 636,737 shares of the company’s stock worth $5,750,000 after acquiring an additional 332,499 shares during the last quarter. Bank of America Corp DE boosted its holdings in Grid Dynamics by 76.4% in the first quarter. Bank of America Corp DE now owns 364,342 shares of the company’s stock valued at $2,077,000 after acquiring an additional 157,767 shares during the last quarter. Banco BTG Pactual S.A. bought a new stake in Grid Dynamics in the fourth quarter valued at approximately $2,574,000. Pacer Advisors Inc. acquired a new stake in Grid Dynamics during the 1st quarter valued at approximately $884,000. Finally, Walleye Capital LLC acquired a new stake in Grid Dynamics during the 1st quarter valued at approximately $1,007,000. Institutional investors own 71.18% of the company’s stock.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their businesses through software development, cloud computing, data and analytics, and artificial intelligence. The company designs and builds technology platforms intended to improve operational efficiency, customer experiences, and the use of enterprise data.

Its services include digital commerce and customer experience solutions, cloud and data engineering, machine learning and artificial intelligence, application modernization, and software product development.