Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Recommendation of “Buy” by Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has received a consensus rating of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.75.

Several research firms recently weighed in on GDYN. Wall Street Zen downgraded Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Needham & Company LLC raised their price objective on Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 2nd.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $11.87 on Friday. Grid Dynamics has a 1-year low of $10.15 and a 1-year high of $25.50. The company has a market capitalization of $1.00 billion, a P/E ratio of 98.92 and a beta of 1.04. The business has a 50 day moving average price of $12.90 and a 200 day moving average price of $16.89.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The firm had revenue of $100.42 million during the quarter, compared to the consensus estimate of $98.19 million. During the same period last year, the business posted $0.10 EPS. Grid Dynamics’s quarterly revenue was up 25.8% on a year-over-year basis. On average, research analysts expect that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the completion of the transaction, the chief operating officer owned 474,269 shares of the company’s stock, valued at approximately $6,269,836.18. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 4,737 shares of company stock worth $65,288 over the last ninety days. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds have recently bought and sold shares of the stock. State of Wyoming increased its position in Grid Dynamics by 4.1% during the fourth quarter. State of Wyoming now owns 26,495 shares of the company’s stock worth $589,000 after buying an additional 1,046 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in Grid Dynamics during the fourth quarter worth $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Grid Dynamics by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company’s stock worth $722,000 after buying an additional 1,106 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Grid Dynamics during the fourth quarter worth $27,000. Finally, Arizona State Retirement System increased its position in Grid Dynamics by 7.6% during the fourth quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock worth $396,000 after buying an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company’s stock.

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.