Grid Dynamics (NASDAQ:GDYN) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Grid Dynamics from “hold” to “buy.” Analyst opinions remain mixed overall: MarketBeat reports an average “hold” rating and an average price target of $11.80.
• Grid Dynamics beat quarterly estimates, reporting EPS of $0.18 versus $0.13 expected and revenue of $114.29 million versus $112.77 million expected.
• Company insiders sold 49,636 shares worth about $500,195 over the past 90 days; the CFO and COO’s reported sales were made under pre-arranged trading plans.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also weighed in on GDYN. JPMorgan Chase & Co. increased their target price on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an "overweight" rating in a research note on Friday, October 30th. Zacks Research downgraded shares of Grid Dynamics from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 15th. Weiss Ratings reissued a "sell (d)" rating on shares of Grid Dynamics in a report on Thursday, October 29th. TD Cowen raised their target price on Grid Dynamics from $9.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, October 30th. Finally, Needham & Company LLC raised their target price on Grid Dynamics from $10.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $11.80.

Grid Dynamics Stock Down 3.2%

NASDAQ GDYN opened at $13.10 on Friday. The business has a 50-day moving average price of $8.68 and a 200-day moving average price of $7.10. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 65.19 and a beta of 0.88. Grid Dynamics has a twelve month low of $5.11 and a twelve month high of $14.02.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. The business had revenue of $114.29 million during the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a return on equity of 3.24% and a net margin of 1.81%. Research analysts expect that Grid Dynamics will post 0.26 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, CFO Anil Doradla sold 20,000 shares of Grid Dynamics stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $210,200.00. Following the transaction, the chief financial officer directly owned 374,509 shares of the company's stock, valued at approximately $3,936,089.59. This trade represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yury Gryzlov sold 10,512 shares of Grid Dynamics stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $10.51, for a total transaction of $110,481.12. Following the transaction, the chief operating officer directly owned 484,778 shares of the company's stock, valued at approximately $5,095,016.78. This trade represents a 2.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 49,636 shares of company stock valued at $500,195. Company insiders own 6.50% of the company's stock.

Institutional Trading of Grid Dynamics

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company's stock worth $47,000 after purchasing an additional 3,122 shares during the period. Vise Technologies Inc. purchased a new stake in Grid Dynamics during the third quarter worth $103,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Grid Dynamics during the second quarter worth about $75,000. StoneX Group Inc. purchased a new stake in Grid Dynamics during the third quarter valued at about $120,000. Finally, FNY Investment Advisers LLC purchased a new position in Grid Dynamics in the 2nd quarter worth approximately $99,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

About Grid Dynamics

Grid Dynamics Holdings, Inc NASDAQ: GDYN is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.

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