Grid Dynamics (NASDAQ:GDYN - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.
Separately, Needham & Company LLC upped their target price on Grid Dynamics from $18.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $18.75.
Get Our Latest Stock Report on GDYN
Grid Dynamics Stock Performance
Grid Dynamics stock opened at $10.63 on Friday. The company has a market cap of $898.77 million, a P/E ratio of 88.59 and a beta of 1.04. Grid Dynamics has a one year low of $10.61 and a one year high of $25.50. The business has a fifty day moving average of $12.57 and a two-hundred day moving average of $16.46.
Grid Dynamics (NASDAQ:GDYN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. Grid Dynamics had a net margin of 2.94% and a return on equity of 1.37%. The firm had revenue of $100.42 million during the quarter, compared to analysts' expectations of $98.19 million. During the same quarter last year, the business earned $0.10 earnings per share. The business's revenue for the quarter was up 25.8% compared to the same quarter last year. Sell-side analysts predict that Grid Dynamics will post 0.18 EPS for the current year.
Insider Transactions at Grid Dynamics
In related 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 6,737 shares of company stock valued at $84,251. 7.20% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Grid Dynamics
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Coppell Advisory Solutions LLC acquired a new stake in Grid Dynamics in the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd lifted its holdings 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. boosted its position in shares of Grid Dynamics by 199.0% in the first 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 last quarter. USA Financial Formulas acquired a new stake in shares of Grid Dynamics in the first quarter worth approximately $42,000. Finally, Johnson Financial Group Inc. purchased a new stake in Grid Dynamics in the fourth quarter valued at approximately $70,000. 71.18% of the stock is currently owned by hedge funds and other institutional investors.
About Grid Dynamics
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Grid Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grid Dynamics wasn't on the list.
While Grid Dynamics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
