Grid Dynamics (NASDAQ:GDYN) Stock Rating Upgraded by Wall Street Zen

Grid Dynamics (NASDAQ:GDYN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Separately, Needham & Company LLC boosted their price objective on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $18.75.

Grid Dynamics Trading Down 0.3%

Shares of NASDAQ GDYN traded down $0.04 during mid-day trading on Friday, reaching $10.43. 256,153 shares of the company's stock were exchanged, compared to its average volume of 680,661. The firm has a market capitalization of $881.43 million, a price-to-earnings ratio of 87.05 and a beta of 1.04. Grid Dynamics has a twelve month low of $10.26 and a twelve month high of $25.50. The business has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $16.31.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. The company had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. Grid Dynamics had a return on equity of 1.37% and a net margin of 2.94%. The business's revenue was up 25.8% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. Equities research analysts predict that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $13.22, for a total transaction of $26,440.00. Following the completion of the transaction, the chief operating officer directly owned 474,269 shares of the company's stock, valued at approximately $6,269,836.18. This represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 6,737 shares of company stock worth $84,251. Insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GDYN. Bank of New York Mellon Corp increased its holdings in Grid Dynamics by 95.5% during the 4th quarter. Bank of New York Mellon Corp now owns 382,213 shares of the company's stock valued at $8,500,000 after purchasing an additional 186,661 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Grid Dynamics by 8.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 505,596 shares of the company's stock worth $11,244,000 after purchasing an additional 41,390 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Grid Dynamics in the 4th quarter worth $208,000. Proficio Capital Partners LLC purchased a new stake in shares of Grid Dynamics in the 4th quarter worth $796,000. Finally, Arizona State Retirement System increased its stake in shares of Grid Dynamics by 7.6% in the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company's stock worth $396,000 after purchasing an additional 1,260 shares in the last quarter. Hedge funds and other institutional investors own 71.18% of the company's stock.

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.