Grid Dynamics Holdings, Inc. to Post FY2024 Earnings of $0.04 Per Share, Cantor Fitzgerald Forecasts (NASDAQ:GDYN)

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for Grid Dynamics in a note issued to investors on Monday, August 12th. Cantor Fitzgerald analyst Y. Lee forecasts that the company will post earnings of $0.04 per share for the year. Cantor Fitzgerald currently has a “Strong-Buy” rating on the stock. The consensus estimate for Grid Dynamics’ current full-year earnings is $0.02 per share.

Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. dropped their price target on Grid Dynamics from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen upgraded shares of Grid Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $12.00 to $16.00 in a research report on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Grid Dynamics in a research report on Thursday, May 23rd. Finally, Needham & Company LLC boosted their price target on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.33.

Grid Dynamics Price Performance

NASDAQ GDYN opened at $13.43 on Wednesday. The company’s 50 day simple moving average is $11.36 and its two-hundred day simple moving average is $11.60. Grid Dynamics has a 1 year low of $9.07 and a 1 year high of $14.70. The stock has a market capitalization of $1.03 billion, a PE ratio of 447.67 and a beta of 1.05.

Grid Dynamics (NASDAQ:GDYN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Grid Dynamics had a positive return on equity of 1.05% and a negative net margin of 0.37%. The firm had revenue of $83.04 million for the quarter, compared to analysts’ expectations of $81.06 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis.

Institutional Trading of Grid Dynamics

A number of institutional investors have recently made changes to their positions in GDYN. Arizona State Retirement System raised its holdings in Grid Dynamics by 5.3% during the 4th quarter. Arizona State Retirement System now owns 16,849 shares of the company’s stock valued at $225,000 after buying an additional 855 shares during the last quarter. Mirador Capital Partners LP raised its stake in shares of Grid Dynamics by 0.8% during the second quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock valued at $1,297,000 after acquiring an additional 954 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Grid Dynamics by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock worth $235,000 after purchasing an additional 1,184 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Grid Dynamics by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock worth $1,119,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in Grid Dynamics by 21.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock valued at $106,000 after purchasing an additional 1,770 shares during the period. Hedge funds and other institutional investors own 71.18% of the company’s stock.

Insider Buying and Selling

In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the transaction, the chief executive officer now directly owns 3,520,901 shares of the company’s stock, valued at $45,842,131.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $13.02, for a total transaction of $195,300.00. Following the completion of the sale, the chief executive officer now directly owns 3,520,901 shares in the company, valued at $45,842,131.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shuo Zhang sold 4,000 shares of Grid Dynamics stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $9.34, for a total value of $37,360.00. Following the completion of the transaction, the director now owns 22,015 shares in the company, valued at approximately $205,620.10. The disclosure for this sale can be found here. Insiders sold 78,000 shares of company stock worth $843,160 in the last quarter. 7.40% of the stock is owned by insiders.

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.