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

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) have been given an average recommendation of “Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $19.60.

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

Grid Dynamics Stock Up 1.0 %

Shares of NASDAQ GDYN opened at $13.75 on Friday. Grid Dynamics has a 52-week low of $9.07 and a 52-week high of $25.50. The company’s 50-day simple moving average is $17.73 and its 200-day simple moving average is $18.36. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 343.75 and a beta of 0.99.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $100.28 million during the quarter, compared to analyst estimates of $96.00 million. Equities research analysts anticipate that Grid Dynamics will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Yury Gryzlov sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $13.97, for a total transaction of $27,940.00. Following the transaction, the chief operating officer now directly owns 476,269 shares in the company, valued at $6,653,477.93. The trade was a 0.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 19,043 shares of company stock worth $349,078 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors and hedge funds have recently modified their holdings of GDYN. Loomis Sayles & Co. L P acquired a new stake in shares of Grid Dynamics in the fourth quarter worth $55,114,000. Vanguard Group Inc. increased its holdings in Grid Dynamics by 26.8% in 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 last quarter. Focus Partners Wealth acquired a new stake in shares of Grid Dynamics during the 4th quarter valued at approximately $23,053,000. William Blair Investment Management LLC bought a new stake in Grid Dynamics during the fourth quarter valued at $22,192,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Grid Dynamics during the 4th quarter valued at about $20,162,000. Hedge funds and other institutional investors 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.