Brokerages Set Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) PT at $17.60

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) have been assigned a consensus rating of "Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $17.60.

Separately, Needham & Company LLC boosted their price target on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd.

Insiders Place Their Bets

In other Grid Dynamics news, COO Yury Gryzlov sold 10,306 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $18.66, for a total transaction of $192,309.96. Following the completion of the transaction, the chief operating officer now directly owns 482,759 shares of the company's stock, valued at approximately $9,008,282.94. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Anil Doradla sold 2,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $18.10, for a total transaction of $36,200.00. Following the completion of the sale, the chief financial officer now owns 366,818 shares in the company, valued at approximately $6,639,405.80. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,043 shares of company stock worth $327,338. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of GDYN. American Century Companies Inc. increased its stake in Grid Dynamics by 824.9% in the 4th quarter. American Century Companies Inc. now owns 621,465 shares of the company's stock worth $13,821,000 after purchasing an additional 554,275 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Grid Dynamics during the fourth quarter valued at approximately $242,000. Barclays PLC raised its holdings in shares of Grid Dynamics by 173.8% during the third quarter. Barclays PLC now owns 111,182 shares of the company's stock valued at $1,556,000 after acquiring an additional 70,579 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Grid Dynamics by 15.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 212,864 shares of the company's stock valued at $4,734,000 after acquiring an additional 28,505 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Grid Dynamics by 1,540.0% in the 4th quarter. Principal Financial Group Inc. now owns 316,601 shares of the company's stock worth $7,041,000 after purchasing an additional 297,296 shares during the period. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Stock Down 1.5 %

Shares of NASDAQ:GDYN traded down $0.21 on Thursday, reaching $13.95. 445,605 shares of the company's stock were exchanged, compared to its average volume of 618,995. The business's 50-day moving average is $14.98 and its two-hundred day moving average is $18.19. Grid Dynamics has a fifty-two week low of $9.07 and a fifty-two week high of $25.50. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 348.75 and a beta of 1.13.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The firm had revenue of $100.42 million for the quarter, compared to analyst estimates of $98.19 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. Grid Dynamics's quarterly revenue was up 25.8% on a year-over-year basis. Analysts predict that Grid Dynamics will post 0.18 earnings per share for the current fiscal 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.