Grid Dynamics (NASDAQ:GDYN) Given New $15.00 Price Target at Citigroup

Grid Dynamics (NASDAQ:GDYN) had its price objective lowered by Citigroup from $17.00 to $15.00 in a research report report published on Monday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Grid Dynamics from $16.00 to $17.00 and gave the company an overweight rating in a report on Friday, February 23rd. Cantor Fitzgerald increased their price target on Grid Dynamics from $14.00 to $17.00 and gave the company an overweight rating in a report on Wednesday, March 13th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Grid Dynamics presently has a consensus rating of Buy and a consensus price target of $15.75.

Grid Dynamics Trading Up 0.2 %

Shares of GDYN opened at $10.38 on Monday. The firm has a market capitalization of $788.57 million, a P/E ratio of -345.88 and a beta of 0.94. The stock’s fifty day simple moving average is $12.41 and its 200 day simple moving average is $12.49. Grid Dynamics has a twelve month low of $8.00 and a twelve month high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $76.64 million. Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. Sell-side analysts predict that Grid Dynamics will post 0.07 earnings per share for the current year.

Insider Activity

In other news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.06, for a total transaction of $195,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,275,442 shares in the company, valued at $29,717,272.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Anil Doradla sold 4,000 shares of Grid Dynamics stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the transaction, the chief financial officer now directly owns 395,568 shares in the company, valued at $5,245,231.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.06, for a total value of $195,900.00. Following the completion of the transaction, the chief executive officer now owns 2,275,442 shares of the company’s stock, valued at $29,717,272.52. The disclosure for this sale can be found here. Insiders sold 90,884 shares of company stock worth $1,159,755 over the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Grid Dynamics by 5.3% in the fourth quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock worth $225,000 after acquiring an additional 855 shares during the last quarter. American Trust lifted its holdings in Grid Dynamics by 10.1% in the third quarter. American Trust now owns 12,963 shares of the company’s stock worth $158,000 after acquiring an additional 1,186 shares during the last quarter. Swiss National Bank lifted its holdings in Grid Dynamics by 1.1% in the third quarter. Swiss National Bank now owns 123,500 shares of the company’s stock worth $1,504,000 after acquiring an additional 1,300 shares during the last quarter. International Assets Investment Management LLC bought a new position in Grid Dynamics in the fourth quarter worth about $26,000. Finally, Barclays PLC lifted its holdings in Grid Dynamics by 8.5% in the third quarter. Barclays PLC now owns 26,063 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares during the last quarter. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.