Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $19.60

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned an average recommendation of “Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.60.

Separately, Needham & Company LLC increased their target price on shares of Grid Dynamics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, February 21st.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $16.77, for a total transaction of $33,540.00. Following the transaction, the chief operating officer now directly owns 480,759 shares of the company’s stock, valued at $8,062,328.43. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $22.12, for a total transaction of $66,360.00. Following the completion of the transaction, the chief financial officer now directly owns 343,012 shares in the company, valued at $7,587,425.44. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,306 shares of company stock worth $376,590 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDYN. Vanguard Group Inc. increased its position in shares of Grid Dynamics by 26.8% during the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company’s stock valued at $123,110,000 after buying an additional 1,171,481 shares during the period. Wellington Management Group LLP increased its position in shares of Grid Dynamics by 30.9% during the third quarter. Wellington Management Group LLP now owns 2,859,808 shares of the company’s stock valued at $40,037,000 after buying an additional 675,419 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Grid Dynamics during the fourth quarter valued at about $55,114,000. Dimensional Fund Advisors LP grew its holdings in shares of Grid Dynamics by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,816,447 shares of the company’s stock worth $40,399,000 after purchasing an additional 17,881 shares in the last quarter. Finally, Next Century Growth Investors LLC grew its holdings in shares of Grid Dynamics by 78.1% during the fourth quarter. Next Century Growth Investors LLC now owns 1,622,226 shares of the company’s stock worth $36,078,000 after purchasing an additional 711,150 shares in the last quarter. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock opened at $16.26 on Wednesday. The firm has a 50-day moving average of $20.38 and a 200-day moving average of $18.23. The stock has a market cap of $1.36 billion, a PE ratio of 406.50 and a beta of 1.10. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $25.50.

Grid Dynamics (NASDAQ:GDYN) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.28 million for the quarter, compared to the consensus estimate of $96.00 million. Equities research analysts predict that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

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.