Wall Street Zen downgraded shares of Grid Dynamics (NASDAQ:GDYN - Free Report) from a buy rating to a hold rating in a research report released on Friday.
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 issued a strong buy rating to the stock. According to MarketBeat, Grid Dynamics presently has an average rating of "Buy" and an average target price of $18.75.
View Our Latest Report on GDYN
Grid Dynamics Stock Up 1.6%
GDYN traded up $0.19 during trading on Friday, hitting $12.19. The company's stock had a trading volume of 110,510 shares, compared to its average volume of 638,272. The business's 50 day simple moving average is $13.84 and its 200-day simple moving average is $17.85. The firm has a market cap of $1.03 billion, a PE ratio of 304.75 and a beta of 1.13. 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 issued its quarterly earnings results on Thursday, May 1st. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The business had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The business's quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts expect that Grid Dynamics will post 0.18 EPS for the current fiscal year.
Insider Transactions at Grid Dynamics
In other Grid Dynamics news, CFO Anil Doradla sold 2,000 shares of the business'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 owns 366,818 shares in the company, valued at $6,639,405.80. The trade was a 0.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 8,737 shares of company stock valued at $135,028. 7.20% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GDYN. Coppell Advisory Solutions LLC bought a new position in Grid Dynamics during the fourth quarter valued at $25,000. Global Retirement Partners LLC bought a new position in shares of Grid Dynamics in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its position in Grid Dynamics by 28,150.0% in the first 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 in the last quarter. PNC Financial Services Group Inc. raised its position in Grid Dynamics by 199.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,293 shares of the company's stock valued at $36,000 after purchasing an additional 1,526 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of Grid Dynamics in the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors own 71.18% of the company's stock.
Grid Dynamics Company Profile
(
Get Free Report)
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.
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