Grid Dynamics (NASDAQ:GDYN) Price Target Cut to $15.00

Grid Dynamics (NASDAQ:GDYN) had its price target cut by Citigroup from $17.00 to $15.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 43.95% from the company’s current price.

A number of other research firms also recently weighed in on GDYN. Cantor Fitzgerald lifted their price objective on Grid Dynamics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price objective on Grid Dynamics from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.75.

Grid Dynamics Stock Up 0.4 %

Shares of GDYN opened at $10.42 on Monday. The stock’s 50-day moving average price is $12.36 and its 200 day moving average price is $12.48. The firm has a market capitalization of $791.61 million, a price-to-earnings ratio of -347.22 and a beta of 0.94. Grid Dynamics has a 12-month low of $8.00 and a 12-month high of $14.70.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $78.07 million for the quarter, compared to analyst estimates of $76.64 million. Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. Equities research analysts expect that Grid Dynamics will post 0.07 EPS for the current year.

Insider Transactions at Grid Dynamics

In other news, CEO Leonard Livschitz sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $11.87, for a total value of $178,050.00. Following the transaction, the chief executive officer now directly owns 3,670,691 shares of the company’s stock, valued at approximately $43,571,102.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Grid Dynamics news, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $11.87, for a total transaction of $178,050.00. Following the transaction, the chief executive officer now owns 3,670,691 shares of the company’s stock, valued at approximately $43,571,102.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the transaction, the chief financial officer now directly owns 395,568 shares in the company, valued at approximately $5,245,231.68. The disclosure for this sale can be found here. Insiders have sold 90,884 shares of company stock valued at $1,159,755 in the last three months. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GDYN. Wasatch Advisors LP raised its position in shares of Grid Dynamics by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 7,614,713 shares of the company’s stock valued at $93,585,000 after acquiring an additional 357,785 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Grid Dynamics by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,007,370 shares of the company’s stock valued at $48,810,000 after acquiring an additional 45,750 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Grid Dynamics by 26.7% during the 4th quarter. Wellington Management Group LLP now owns 1,878,946 shares of the company’s stock valued at $25,046,000 after acquiring an additional 396,320 shares during the last quarter. Summit Creek Advisors LLC raised its position in shares of Grid Dynamics by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 984,074 shares of the company’s stock valued at $11,986,000 after acquiring an additional 3,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Grid Dynamics by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company’s stock valued at $5,218,000 after acquiring an additional 29,892 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.