Analysts Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $18.75

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) have received a consensus rating of "Buy" from the five research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.75.

A number of brokerages have recently weighed in on GDYN. Wall Street Zen downgraded Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Needham & Company LLC lifted their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 2nd.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the sale, the chief operating officer directly owned 474,269 shares in the company, valued at approximately $6,269,836.18. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 4,737 shares of company stock worth $65,288 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Grid Dynamics by 12.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company's stock valued at $4,995,000 after acquiring an additional 35,204 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Grid Dynamics by 3.6% during the 1st quarter. Rhumbline Advisers now owns 167,049 shares of the company's stock valued at $2,614,000 after acquiring an additional 5,787 shares during the last quarter. Strs Ohio purchased a new stake in shares of Grid Dynamics during the first quarter valued at $224,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Grid Dynamics by 35.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company's stock worth $2,546,000 after buying an additional 42,801 shares during the period. Finally, Axiom Investors LLC DE acquired a new position in Grid Dynamics in the 1st quarter worth approximately $3,876,000. Institutional investors own 71.18% of the company's stock.

Grid Dynamics Trading Down 1.0%

GDYN stock traded down $0.12 during mid-day trading on Friday, hitting $11.55. 512,328 shares of the company were exchanged, compared to its average volume of 665,361. The firm has a fifty day simple moving average of $12.92 and a 200 day simple moving average of $16.92. The company has a market capitalization of $976.55 million, a PE ratio of 96.26 and a beta of 1.07. Grid Dynamics has a twelve month low of $10.15 and a twelve month high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The business had revenue of $100.42 million for the quarter, compared to analysts' expectations of $98.19 million. During the same quarter last year, the company posted $0.10 earnings per share. The company's quarterly revenue was up 25.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Grid Dynamics will post 0.18 earnings per share for the current year.

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.