Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Given Average Rating of "Buy" by Analysts

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

A number of analysts have issued reports on GDYN shares. Wall Street Zen cut shares of Grid Dynamics from a "buy" rating to a "hold" rating in a research note on Friday. 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.

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of the business's stock in a transaction dated 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 now directly owns 474,269 shares in the company, valued at approximately $6,269,836.18. The trade was 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 the SEC website. Insiders sold a total of 19,043 shares of company stock valued at $327,338 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of GDYN. Coppell Advisory Solutions LLC acquired a new position in shares of Grid Dynamics during the fourth quarter worth approximately $25,000. Global Retirement Partners LLC bought a new position in Grid Dynamics in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Grid Dynamics by 28,150.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock worth $27,000 after acquiring an additional 1,689 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Grid Dynamics by 199.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock worth $36,000 after acquiring an additional 1,526 shares during the period. Finally, USA Financial Formulas bought a new position in Grid Dynamics in the 1st quarter worth about $42,000. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Stock Performance

Shares of Grid Dynamics stock traded down $0.53 during trading hours on Monday, reaching $12.00. The company's stock had a trading volume of 543,798 shares, compared to its average volume of 640,341. The stock has a market cap of $1.01 billion, a P/E ratio of 300.00 and a beta of 1.13. The company's 50 day simple moving average is $13.93 and its 200 day simple moving average is $17.88. Grid Dynamics has a one year low of $9.07 and a one year high of $25.50.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $100.42 million for the quarter, compared to analysts' expectations of $98.19 million. Grid Dynamics had a net margin of 1.15% and a negative return on equity of 0.33%. The business's revenue was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, sell-side analysts predict that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

About Grid Dynamics

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.