Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Has Consensus Target Price of $9.40 According to Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.40.

GDYN has been the topic of several research reports. Zacks Research upgraded Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. TD Cowen increased their target price on shares of Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Needham & Company LLC increased their target price on Grid Dynamics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Grid Dynamics in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a report on Friday, July 31st.

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 4,849 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $8.00, for a total value of $38,792.00. Following the sale, the chief operating officer directly owned 495,290 shares in the company, valued at $3,962,320. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 14,409 shares of company stock worth $115,625. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fourth Sail Capital LP raised its stake in shares of Grid Dynamics by 36.2% in the 4th quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after buying an additional 1,016,563 shares in the last quarter. Bastion Asset Management Inc. bought a new position in shares of Grid Dynamics during the 1st quarter valued at about $6,899,000. 1492 Capital Management LLC grew its stake in shares of Grid Dynamics by 40.8% in the 4th quarter. 1492 Capital Management LLC now owns 809,951 shares of the company’s stock worth $7,314,000 after purchasing an additional 234,694 shares during the last quarter. S Squared Technology LLC boosted its holdings in Grid Dynamics by 109.3% during the fourth quarter. S Squared Technology LLC now owns 636,737 shares of the company’s stock worth $5,750,000 after buying an additional 332,499 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Grid Dynamics in the second quarter valued at $2,702,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Up 4.4%

Shares of NASDAQ:GDYN opened at $8.01 on Friday. The company has a market cap of $649.85 million, a P/E ratio of 400.70 and a beta of 0.97. The business has a fifty day simple moving average of $7.80 and a 200-day simple moving average of $6.70. Grid Dynamics has a 52 week low of $5.11 and a 52 week high of $10.21.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The firm had revenue of $108.16 million for the quarter, compared to analyst estimates of $106.55 million. Sell-side analysts expect that Grid Dynamics will post 0.2 earnings per share for the current fiscal year.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their businesses through software development, cloud computing, data and analytics, and artificial intelligence. The company designs and builds technology platforms intended to improve operational efficiency, customer experiences, and the use of enterprise data.

Its services include digital commerce and customer experience solutions, cloud and data engineering, machine learning and artificial intelligence, application modernization, and software product development.