Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Has Average Price Target of $9.40 According to Brokerages

Key Points

• Analysts have a mixed view of Grid Dynamics: eight analysts give the stock an average “Hold” rating, with four buys, two holds, and two sells. The average 12-month price target is $9.40, modestly above the reported $8.61 share price.
• Institutional ownership is substantial and expanding: hedge funds and other institutions own 71.18% of the company, while several investors recently initiated or increased positions.
• Grid Dynamics recently exceeded quarterly expectations, reporting $0.11 in earnings per share versus a $0.10 consensus estimate and $108.16 million in revenue versus a $106.55 million forecast. However, insider selling continued, including a COO sale of 4,849 shares under a pre-arranged trading plan.

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) has received an average rating of "Hold" from the eight analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.40.

Several equities research analysts have commented on GDYN shares. Weiss Ratings reissued a "sell (d)" rating on shares of Grid Dynamics in a report on Friday, July 31st. TD Cowen increased their target price on Grid Dynamics from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Zacks Research downgraded Grid Dynamics from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 15th. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $7.00 to $8.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, Needham & Company LLC lifted their price target on Grid Dynamics from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, July 31st.

Insider Buying and Selling

In related news, COO Yury Gryzlov sold 4,849 shares of the stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $8.00, for a total transaction of $38,792.00. Following the sale, the chief operating officer directly owned 495,290 shares of the company's stock, valued at approximately $3,962,320. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 14,409 shares of company stock worth $115,625. Corporate insiders own 6.50% of the company's stock.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors have recently made changes to their positions in the company. Bastion Asset Management Inc. purchased a new position in Grid Dynamics in the 1st quarter worth approximately $6,899,000. Squarepoint Ops LLC purchased a new stake in Grid Dynamics during the 2nd quarter valued at $2,702,000. Summit Creek Advisors LLC purchased a new stake in Grid Dynamics during the 2nd quarter valued at $2,452,000. Walleye Capital LLC purchased a new stake in Grid Dynamics during the 1st quarter valued at $1,007,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Grid Dynamics by 460.4% in the 1st quarter. Quantinno Capital Management LP now owns 206,289 shares of the company's stock worth $1,176,000 after purchasing an additional 169,477 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

Grid Dynamics Stock Performance

Shares of NASDAQ GDYN opened at $8.61 on Tuesday. The company has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $6.99. Grid Dynamics has a fifty-two week low of $5.11 and a fifty-two week high of $10.21. The company has a market capitalization of $698.53 million, a price-to-earnings ratio of 430.72 and a beta of 0.97.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. The company had revenue of $108.16 million for the quarter, compared to the consensus estimate of $106.55 million. On average, analysts forecast that Grid Dynamics will post 0.20 earnings per share for the current fiscal year.

Grid Dynamics Company Profile

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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