Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Rating of "Buy" from Brokerages

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN - Get Free Report) has been given a consensus recommendation of "Buy" by the five ratings firms that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.75.

Several equities research analysts have issued reports on GDYN shares. Needham & Company LLC boosted their price objective on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Wall Street Zen lowered shares of Grid Dynamics from a "buy" rating to a "hold" rating in a report on Friday, May 30th.

Insider Buying and Selling at Grid Dynamics

In other news, CFO Anil Doradla sold 2,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $18.10, for a total value of $36,200.00. Following the sale, the chief financial officer now directly owns 366,818 shares of the company's stock, valued at $6,639,405.80. This represents a 0.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 8,737 shares of company stock worth $135,028. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GDYN. Loomis Sayles & Co. L P purchased a new position in Grid Dynamics during the fourth quarter valued at $55,114,000. Nuveen LLC purchased a new position in Grid Dynamics during the first quarter worth about $19,977,000. Vanguard Group Inc. boosted its stake in shares of Grid Dynamics by 26.8% in the fourth quarter. Vanguard Group Inc. now owns 5,535,526 shares of the company's stock valued at $123,110,000 after purchasing an additional 1,171,481 shares during the period. Focus Partners Wealth purchased a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $23,053,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Grid Dynamics in the fourth quarter valued at approximately $22,192,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Stock Down 2.8%

NASDAQ GDYN traded down $0.34 on Monday, reaching $11.95. The company had a trading volume of 962,538 shares, compared to its average volume of 643,887. The firm's 50 day moving average price is $13.69 and its 200 day moving average price is $17.78. Grid Dynamics has a 12 month low of $9.11 and a 12 month high of $25.50. The stock has a market capitalization of $1.01 billion, a PE ratio of 298.75 and a beta of 1.07.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $98.19 million. During the same period in the previous year, the firm posted $0.10 EPS. The business's quarterly revenue was up 25.8% on a year-over-year basis. On average, research analysts expect that Grid Dynamics will post 0.18 EPS 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.