Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Recommendation of “Buy” from Brokerages

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have received an average recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.67.

GDYN has been the subject of a number of research analyst reports. Needham & Company LLC upped their price objective on Grid Dynamics from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Citigroup cut their price objective on Grid Dynamics from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, July 12th. TD Cowen upgraded Grid Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $12.00 to $16.00 in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Grid Dynamics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Cantor Fitzgerald upgraded shares of Grid Dynamics to a “strong-buy” rating in a research note on Monday, August 12th.

Grid Dynamics Trading Up 0.3 %

NASDAQ GDYN opened at $14.05 on Wednesday. The business’s 50-day moving average price is $13.46 and its 200 day moving average price is $11.66. Grid Dynamics has a twelve month low of $9.07 and a twelve month high of $14.70. The company has a market capitalization of $1.08 billion, a PE ratio of 468.33 and a beta of 1.06.

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

Insider Transactions at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the sale, the chief executive officer now directly owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Teamsun Technology Co. Beijing sold 913,387 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $12.80, for a total transaction of $11,691,353.60. Following the completion of the transaction, the insider now directly owns 13,889,183 shares in the company, valued at approximately $177,781,542.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $13.73, for a total transaction of $205,950.00. Following the completion of the sale, the chief executive officer now owns 3,475,901 shares of the company’s stock, valued at approximately $47,724,120.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 966,387 shares of company stock valued at $12,351,614. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Mirador Capital Partners LP boosted its holdings in Grid Dynamics by 0.8% in the second quarter. Mirador Capital Partners LP now owns 123,399 shares of the company’s stock worth $1,297,000 after purchasing an additional 954 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Grid Dynamics by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,388 shares of the company’s stock valued at $235,000 after buying an additional 1,184 shares during the period. Linden Thomas Advisory Services LLC grew its position in shares of Grid Dynamics by 1.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 106,498 shares of the company’s stock valued at $1,119,000 after buying an additional 1,735 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Grid Dynamics by 21.3% in the second quarter. Harbor Capital Advisors Inc. now owns 10,073 shares of the company’s stock worth $106,000 after acquiring an additional 1,770 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Grid Dynamics by 8.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 25,546 shares of the company’s stock valued at $314,000 after acquiring an additional 1,985 shares during the period. 71.18% of the stock is 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.