Grid Dynamics (NASDAQ:GDYN) Downgraded by Wall Street Zen to "Hold"

Grid Dynamics (NASDAQ:GDYN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Separately, Needham & Company LLC lifted their target price on shares of Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $18.75.

Grid Dynamics Trading Up 1.5%

NASDAQ GDYN traded up $0.16 during trading on Friday, reaching $10.79. The company's stock had a trading volume of 1,063,797 shares, compared to its average volume of 693,506. The stock has a market capitalization of $912.29 million, a PE ratio of 89.92 and a beta of 1.04. The business has a 50-day moving average price of $12.01 and a 200-day moving average price of $15.84. Grid Dynamics has a 1-year low of $10.26 and a 1-year high of $25.50.

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

Insider Activity at Grid Dynamics

In other news, COO Yury Gryzlov sold 2,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $13.22, for a total value of $26,440.00. Following the transaction, the chief operating officer owned 474,269 shares of the company's stock, valued at $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 can be accessed through this hyperlink. Insiders have sold a total of 6,737 shares of company stock valued at $84,251 over the last 90 days. Company insiders own 7.20% of the company's stock.

Institutional Trading of Grid Dynamics

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 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd grew its position in Grid Dynamics by 28,150.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,695 shares of the company's stock worth $27,000 after purchasing an additional 1,689 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Grid Dynamics by 199.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock worth $36,000 after purchasing an additional 1,526 shares during the last quarter. USA Financial Formulas acquired a new stake in Grid Dynamics in the 1st quarter worth $42,000. Finally, Johnson Financial Group Inc. bought a new stake in Grid Dynamics in the 4th quarter valued at $70,000. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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.