Grid Dynamics (NASDAQ:GDYN) PT Lowered to $15.00

Grid Dynamics (NASDAQ:GDYN) had its price objective cut by research analysts at JPMorgan Chase & Co. from $17.00 to $15.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 48.96% from the stock’s previous close.

Several other equities analysts have also issued reports on GDYN. Citigroup dropped their price target on Grid Dynamics from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Cantor Fitzgerald increased their target price on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 13th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $15.75.

Grid Dynamics Trading Up 2.3 %

Shares of GDYN stock opened at $10.07 on Thursday. Grid Dynamics has a 1-year low of $8.00 and a 1-year high of $14.70. The stock has a market cap of $765.02 million, a price-to-earnings ratio of -335.55 and a beta of 1.00. The stock has a 50-day moving average of $11.82 and a 200-day moving average of $12.35.

Grid Dynamics (NASDAQ:GDYN) last announced its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a negative net margin of 0.56% and a positive return on equity of 6.77%. The company had revenue of $78.07 million during the quarter, compared to the consensus estimate of $76.64 million. During the same quarter in the previous year, the company earned $0.14 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Sell-side analysts forecast that Grid Dynamics will post 0.07 earnings per share for the current year.

Insider Activity

In related news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total transaction of $208,200.00. Following the sale, the chief executive officer now directly owns 3,760,474 shares in the company, valued at $52,195,379.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of Grid Dynamics stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $10.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 385,979 shares of the company’s stock, valued at approximately $3,859,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Leonard Livschitz sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total transaction of $208,200.00. Following the sale, the chief executive officer now directly owns 3,760,474 shares in the company, valued at approximately $52,195,379.12. The disclosure for this sale can be found here. Insiders sold a total of 88,884 shares of company stock valued at $1,099,255 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors have recently added to or reduced their stakes in GDYN. International Assets Investment Management LLC bought a new stake in Grid Dynamics during the fourth quarter worth about $26,000. SG Americas Securities LLC purchased a new stake in Grid Dynamics in the third quarter worth $142,000. American Trust boosted its holdings in Grid Dynamics by 10.1% in the third quarter. American Trust now owns 12,963 shares of the company’s stock valued at $158,000 after acquiring an additional 1,186 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new position in Grid Dynamics during the 3rd quarter valued at $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Grid Dynamics by 147.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock worth $203,000 after buying an additional 9,081 shares during the period. 71.18% of the stock is currently owned by institutional investors.

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.