Grid Dynamics (NASDAQ:GDYN) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Grid Dynamics (NASDAQ:GDYN) in a report published on Thursday, Marketbeat reports. Wedbush currently has a $13.00 target price on the stock.

Several other equities analysts have also recently weighed in on GDYN. Citigroup lowered their target price on Grid Dynamics from $17.00 to $15.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Needham & Company LLC reaffirmed a buy rating and set a $16.00 target price on shares of Grid Dynamics in a research note on Friday, May 3rd. JPMorgan Chase & Co. lowered their target price on Grid Dynamics from $17.00 to $15.00 and set an overweight rating on the stock in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald lifted their target price on Grid Dynamics from $14.00 to $17.00 and gave the company an overweight rating in a research note on Wednesday, March 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Grid Dynamics presently has an average rating of Buy and a consensus price target of $15.20.

Grid Dynamics Trading Up 1.0 %

Shares of GDYN opened at $10.27 on Thursday. The business’s 50-day moving average price is $10.98 and its 200 day moving average price is $12.29. The stock has a market capitalization of $785.86 million, a P/E ratio of 342.45 and a beta of 1.00. Grid Dynamics has a 1-year low of $8.53 and a 1-year high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). The company had revenue of $79.82 million during the quarter, compared to analysts’ expectations of $77.48 million. Grid Dynamics had a return on equity of 3.31% and a net margin of 0.72%. On average, research analysts predict that Grid Dynamics will post 0.03 earnings per share for the current year.

Insider Activity

In other 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $12.36, for a total transaction of $185,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,745,474 shares in the company, valued at $46,294,058.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the transaction, the chief financial officer now owns 395,568 shares of the company’s stock, valued at $5,245,231.68. The disclosure for this sale can be found here. Insiders sold a total of 93,884 shares of company stock worth $1,111,055 in the last three months. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in shares of Grid Dynamics during the fourth quarter valued at approximately $26,000. ProShare Advisors LLC bought a new stake in shares of Grid Dynamics during the first quarter valued at approximately $124,000. American Trust increased its position in shares of Grid Dynamics by 10.1% during the third quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after purchasing an additional 1,186 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of Grid Dynamics during the third quarter valued at approximately $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Grid Dynamics by 147.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock valued at $203,000 after purchasing an additional 9,081 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.