Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Price Target at $18.33

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has earned an average recommendation of “Buy” from the six analysts that are currently covering the firm, 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 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.33.

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their price objective on shares of Grid Dynamics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Citigroup increased their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, TD Cowen boosted their target price on shares of Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Insider Transactions at Grid Dynamics

In related news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $17.66, for a total value of $52,980.00. Following the transaction, the chief financial officer now directly owns 380,282 shares of the company’s stock, valued at $6,715,780.12. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 10,000 shares of company stock worth $180,860. Company insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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. Quarry LP grew its holdings in Grid Dynamics by 131.5% during the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after acquiring an additional 2,974 shares during the period. Hsbc Holdings PLC acquired a new stake in Grid Dynamics during the 2nd quarter worth about $117,000. Quantbot Technologies LP acquired a new position in shares of Grid Dynamics in the 3rd quarter valued at about $122,000. Finally, XTX Topco Ltd bought a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $129,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Trading Down 2.7 %

Shares of NASDAQ:GDYN opened at $21.58 on Friday. The firm has a 50 day moving average of $19.02 and a 200-day moving average of $15.28. Grid Dynamics has a 12 month low of $9.07 and a 12 month high of $24.16. The stock has a market capitalization of $1.78 billion, a PE ratio of 719.57 and a beta of 1.01.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $87.40 million during the quarter, compared to the consensus estimate of $85.09 million. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 earnings per share. On average, research analysts predict that Grid Dynamics will post 0.03 EPS for the current fiscal 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.