Grid Dynamics (NASDAQ:GDYN) Reaches New 1-Year High at $17.14

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s share price reached a new 52-week high on Friday . The company traded as high as $17.14 and last traded at $16.91, with a volume of 5385 shares. The stock had previously closed at $15.96.

A number of equities research analysts recently weighed in on the company. Northland Securities raised their price objective on Grid Dynamics from $11.00 to $17.00 and gave the company an “outperform” rating in a research report on Monday, March 8th. Zacks Investment Research upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Friday, May 21st. Cowen raised their target price on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, March 5th. Needham & Company LLC lifted their price target on shares of Grid Dynamics from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, May 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Grid Dynamics in a research report on Tuesday, May 4th. Seven equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $28.83.

The stock has a market capitalization of $910.11 million, a price-to-earnings ratio of -84.70 and a beta of 0.85. The firm’s fifty day moving average price is $15.15.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, May 6th. The company reported $0.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.02. Grid Dynamics had a positive return on equity of 3.61% and a negative net margin of 8.53%. The firm had revenue of $39.13 million for the quarter, compared to analyst estimates of $35.35 million. As a group, equities analysts predict that Grid Dynamics Holdings, Inc. will post 0.17 earnings per share for the current fiscal year.

In related news, Director Eric Benhamou sold 100,000 shares of Grid Dynamics stock in a transaction that occurred on Monday, May 24th. The stock was sold at an average price of $16.05, for a total transaction of $1,605,000.00. Following the completion of the transaction, the director now directly owns 263,785 shares in the company, valued at $4,233,749.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Stan Klimoff sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $15.75, for a total value of $63,000.00. Following the completion of the transaction, the vice president now directly owns 207,766 shares of the company’s stock, valued at $3,272,314.50. The disclosure for this sale can be found here. Insiders have sold 337,927 shares of company stock valued at $5,297,046 over the last 90 days. 15.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Grid Dynamics by 54.1% during the 1st quarter. Royal Bank of Canada now owns 2,298 shares of the company’s stock worth $37,000 after acquiring an additional 807 shares in the last quarter. The PNC Financial Services Group Inc. purchased a new position in shares of Grid Dynamics during the 1st quarter valued at approximately $39,000. ETF Managers Group LLC acquired a new stake in Grid Dynamics in the 4th quarter valued at $66,000. Strs Ohio increased its holdings in Grid Dynamics by 17.9% in the 4th quarter. Strs Ohio now owns 6,600 shares of the company’s stock worth $83,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Citigroup Inc. raised its position in Grid Dynamics by 679.9% during the fourth quarter. Citigroup Inc. now owns 8,134 shares of the company’s stock worth $102,000 after acquiring an additional 7,091 shares during the period. 47.72% of the stock is owned by institutional investors.

About Grid Dynamics (NASDAQ:GDYN)

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services for Fortune 1000 corporations in the United States, and Central and Eastern European countries. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.

Recommended Story: Why is the ex-dividend date different from the record date?

Receive News & Ratings for Grid Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grid Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.