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

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been given an average recommendation of “Buy” by the five ratings firms that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.75.

A number of research firms have recently commented on GDYN. Wall Street Zen cut shares of Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Needham & Company LLC boosted their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd.

Grid Dynamics Stock Performance

GDYN opened at $10.46 on Tuesday. The stock has a market capitalization of $884.39 million, a price-to-earnings ratio of 87.17 and a beta of 1.04. The company has a fifty day moving average of $11.86 and a two-hundred day moving average of $15.64. Grid Dynamics has a fifty-two week low of $10.26 and a fifty-two week high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, May 1st. The company reported $0.11 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 net margin of 2.94% and a return on equity of 1.37%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.10 earnings per share. On average, equities research analysts forecast that Grid Dynamics will post 0.18 earnings per share for the current year.

Insiders Place Their Bets

In related 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 transaction, the chief operating officer directly owned 474,269 shares in the company, valued at approximately $6,269,836.18. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold 6,737 shares of company stock worth $84,251 in the last quarter. Insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its position in Grid Dynamics by 824.9% during the fourth quarter. American Century Companies Inc. now owns 621,465 shares of the company’s stock worth $13,821,000 after acquiring an additional 554,275 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Grid Dynamics by 35.1% in the 1st quarter. New York State Teachers Retirement System now owns 17,903 shares of the company’s stock valued at $280,000 after purchasing an additional 4,656 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in Grid Dynamics in the 1st quarter valued at about $546,000. SG Americas Securities LLC boosted its holdings in Grid Dynamics by 426.8% in the 1st quarter. SG Americas Securities LLC now owns 57,363 shares of the company’s stock valued at $898,000 after purchasing an additional 46,475 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Grid Dynamics by 3.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 91,624 shares of the company’s stock valued at $1,434,000 after purchasing an additional 3,209 shares during the last quarter. 71.18% of the stock is currently 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.