Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Rating of “Buy” from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.75.

Several equities research analysts recently commented on the stock. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Wall Street Zen downgraded Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, May 30th.

Grid Dynamics Trading Up 3.3%

NASDAQ:GDYN opened at $12.36 on Friday. Grid Dynamics has a 1 year low of $10.15 and a 1 year high of $25.50. The stock has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $16.80. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 103.01 and a beta of 1.04.

Grid Dynamics (NASDAQ:GDYN) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $100.42 million during the quarter, compared to analysts’ expectations of $98.19 million. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. Grid Dynamics’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 EPS. Sell-side analysts forecast that Grid Dynamics will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total transaction of $26,440.00. Following the sale, the chief operating officer directly owned 474,269 shares of the company’s stock, valued at $6,269,836.18. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold a total of 4,737 shares of company stock worth $63,091 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of Grid Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC acquired a new position in shares of Grid Dynamics during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC bought a new position in shares of Grid Dynamics in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd increased its holdings in Grid Dynamics by 28,150.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company’s stock worth $27,000 after buying an additional 1,689 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Grid Dynamics by 199.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company’s stock worth $36,000 after buying an additional 1,526 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Grid Dynamics during the first quarter worth $42,000. Institutional investors own 71.18% of the company’s stock.

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.