Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Grid Dynamics holds a “Moderate Buy” consensus among eight analysts, with four buy ratings, one strong-buy, one hold and two sell ratings. The average 12-month price target is $9.40, versus a recent share price of $8.38.
• The company’s latest quarterly results exceeded expectations, reporting adjusted earnings of $0.11 per share versus a $0.10 consensus estimate and revenue of $108.16 million versus $106.55 million expected.
• Institutional investors own 71.18% of the stock, while insiders own 6.50%; however, company insiders sold 8,315 shares worth approximately $66,301 over the past three months.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) has been given an average rating of "Moderate Buy" by the eight research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $9.40.

A number of equities research analysts recently weighed in on GDYN shares. Weiss Ratings restated a "sell (d)" rating on shares of Grid Dynamics in a research report on Friday, July 31st. TD Cowen increased their target price on Grid Dynamics from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Needham & Company LLC lifted their price target on Grid Dynamics from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on Grid Dynamics from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Finally, Zacks Research upgraded Grid Dynamics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th.

Insider Transactions at Grid Dynamics

In related news, COO Yury Gryzlov sold 3,930 shares of Grid Dynamics stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $8.00, for a total transaction of $31,440.00. Following the sale, the chief operating officer directly owned 508,087 shares in the company, valued at $4,064,696. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 8,315 shares of company stock valued at $66,301. 6.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

Large investors have recently modified their holdings of the business. S Squared Technology LLC grew its stake in shares of Grid Dynamics by 109.3% in the fourth quarter. S Squared Technology LLC now owns 636,737 shares of the company's stock worth $5,750,000 after purchasing an additional 332,499 shares during the last quarter. Banco BTG Pactual S.A. acquired a new stake in Grid Dynamics in the fourth quarter valued at $2,574,000. Pacer Advisors Inc. bought a new position in Grid Dynamics during the 1st quarter worth $884,000. Walleye Capital LLC bought a new position in Grid Dynamics during the 1st quarter worth $1,007,000. Finally, 1492 Capital Management LLC lifted its holdings in Grid Dynamics by 40.8% during the 4th quarter. 1492 Capital Management LLC now owns 809,951 shares of the company's stock worth $7,314,000 after buying an additional 234,694 shares during the period. Institutional investors own 71.18% of the company's stock.

Grid Dynamics Price Performance

Shares of Grid Dynamics stock opened at $8.38 on Friday. Grid Dynamics has a fifty-two week low of $5.11 and a fifty-two week high of $10.21. The firm has a market capitalization of $679.87 million, a P/E ratio of 419.21 and a beta of 0.97. The company's 50 day moving average price is $7.65 and its two-hundred day moving average price is $6.64.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Grid Dynamics had a net margin of 0.68% and a return on equity of 1.90%. The company had revenue of $108.16 million during the quarter, compared to the consensus estimate of $106.55 million. On average, analysts expect that Grid Dynamics will post 0.17 earnings per share for the current year.

About Grid Dynamics

Grid Dynamics Holdings, Inc is a technology services company that helps enterprises design, build and modernize digital platforms and applications. Its work combines software engineering, cloud computing, data engineering, artificial intelligence and machine learning to support large-scale business transformation initiatives.

The company provides services for digital commerce, supply chain and logistics, financial services, healthcare, manufacturing and other industries. Its offerings include e-commerce and customer-experience solutions, cloud migration and modernization, data platforms, analytics, enterprise application development, and AI-enabled products and services.

Founded in 2006, Grid Dynamics serves enterprise customers internationally through a distributed delivery model spanning North America, Europe and other regions.

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