Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $18.75.
Several equities research analysts recently commented on the company. Needham & Company LLC increased their price target on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Wall Street Zen cut Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th.
Get Our Latest Research Report on Grid Dynamics
Insider Transactions at Grid Dynamics
In related news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total value of $26,440.00. Following the completion of the transaction, the chief operating officer directly owned 474,269 shares in the company, valued at approximately $6,269,836.18. This trade represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 6,737 shares of company stock valued at $84,251 in the last ninety days. Company insiders own 7.20% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd raised its stake in Grid Dynamics by 28,150.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock valued at $27,000 after buying an additional 1,689 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Grid Dynamics by 199.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock valued at $36,000 after buying an additional 1,526 shares in the last quarter. USA Financial Formulas acquired a new stake in Grid Dynamics in the first quarter valued at $42,000. Finally, Johnson Financial Group Inc. acquired a new stake in Grid Dynamics in the fourth quarter valued at $70,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.
Grid Dynamics Price Performance
Shares of NASDAQ:GDYN traded down $0.08 during midday trading on Tuesday, hitting $10.30. The company had a trading volume of 51,476 shares, compared to its average volume of 735,198. Grid Dynamics has a twelve month low of $10.26 and a twelve month high of $25.50. The stock has a market cap of $870.53 million, a price-to-earnings ratio of 85.88 and a beta of 1.04. The business's 50-day simple moving average is $11.93 and its 200-day simple moving average is $15.76.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The firm had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. During the same quarter last year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was up 25.8% on a year-over-year basis. As a group, sell-side analysts forecast that Grid Dynamics will post 0.18 EPS for the current year.
About Grid Dynamics
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Get Free ReportGrid 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.
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