Grid Dynamics (NASDAQ:GDYN) Price Target Cut to $15.00

Grid Dynamics (NASDAQ:GDYN) had its target price decreased by Citigroup from $17.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 43.95% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on GDYN. Cantor Fitzgerald increased their price target on shares of Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. increased their price target on shares of Grid Dynamics from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $15.75.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $10.42 on Monday. Grid Dynamics has a 52-week low of $8.00 and a 52-week high of $14.70. The stock has a market capitalization of $791.61 million, a price-to-earnings ratio of -347.22 and a beta of 0.94. The company has a fifty day moving average of $12.36 and a 200-day moving average of $12.48.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The business had revenue of $78.07 million during the quarter, compared to analysts’ expectations of $76.64 million. During the same period last year, the company posted $0.14 EPS. Grid Dynamics’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts forecast that Grid Dynamics will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $11.87, for a total value of $178,050.00. Following the completion of the sale, the chief executive officer now directly owns 3,670,691 shares of the company’s stock, valued at approximately $43,571,102.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Grid Dynamics news, CFO Anil Doradla sold 4,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $13.26, for a total transaction of $53,040.00. Following the completion of the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at approximately $5,245,231.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $11.87, for a total transaction of $178,050.00. Following the sale, the chief executive officer now owns 3,670,691 shares of the company’s stock, valued at $43,571,102.17. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,884 shares of company stock valued at $1,159,755. Company insiders own 7.40% of the company’s stock.

Institutional Trading of Grid Dynamics

A number of large investors have recently made changes to their positions in GDYN. International Assets Investment Management LLC bought a new stake in shares of Grid Dynamics in the fourth quarter worth approximately $26,000. SG Americas Securities LLC bought a new stake in shares of Grid Dynamics in the third quarter worth approximately $142,000. American Trust grew its stake in shares of 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 period. Johnson Investment Counsel Inc. bought a new stake in shares of Grid Dynamics in the third quarter worth approximately $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Grid Dynamics by 147.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock worth $203,000 after acquiring an additional 9,081 shares during the period. 71.18% of the stock is currently owned by institutional investors.

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.