Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives $19.17 Consensus Price Target from Analysts

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been assigned an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.17.

Several analysts have recently issued reports on the stock. Citigroup boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on shares of Grid Dynamics from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Finally, TD Cowen boosted their price objective on shares of Grid Dynamics from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Insider Buying and Selling

In other Grid Dynamics news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $22.12, for a total value of $66,360.00. Following the transaction, the chief financial officer now owns 343,012 shares in the company, valued at $7,587,425.44. The trade was a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 8,000 shares of company stock valued at $171,780. Company insiders own 7.20% 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. Coppell Advisory Solutions LLC acquired a new position in Grid Dynamics in the 4th quarter worth $25,000. Global Retirement Partners LLC acquired a new position in Grid Dynamics in the 4th quarter worth $27,000. FMR LLC lifted its holdings in Grid Dynamics by 38.7% in the 3rd quarter. FMR LLC now owns 2,873 shares of the company’s stock worth $40,000 after buying an additional 801 shares in the last quarter. MCF Advisors LLC lifted its holdings in Grid Dynamics by 65.8% in the 4th quarter. MCF Advisors LLC now owns 1,864 shares of the company’s stock worth $41,000 after buying an additional 740 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Grid Dynamics in the 4th quarter worth $70,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

Grid Dynamics Stock Performance

GDYN stock opened at $19.90 on Friday. The stock has a market capitalization of $1.64 billion, a P/E ratio of 497.50 and a beta of 1.01. Grid Dynamics has a one year low of $9.07 and a one year high of $25.50. The company has a 50 day moving average price of $21.65 and a two-hundred day moving average price of $17.72.

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

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.