Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average recommendation of "Buy" from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have covered the stock in the last year is $18.60.
A number of equities analysts have weighed in on GDYN shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Grid Dynamics in a research report on Tuesday, May 4th. Zacks Investment Research raised shares of Grid Dynamics from a "hold" rating to a "buy" rating and set a $21.00 price target on the stock in a research note on Tuesday. Finally, Needham & Company LLC increased their target price on shares of Grid Dynamics from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Friday, July 9th.
Shares of Grid Dynamics stock opened at $19.47 on Friday. The company has a market capitalization of $1.05 billion, a P/E ratio of -97.35 and a beta of 0.85. The company's 50 day simple moving average is $17.50. Grid Dynamics has a 52 week low of $6.33 and a 52 week high of $21.13.
Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.02. Grid Dynamics had a positive return on equity of 3.61% and a negative net margin of 8.53%. The firm had revenue of $39.13 million for the quarter, compared to analysts' expectations of $35.35 million. On average, sell-side analysts anticipate that Grid Dynamics will post 0.17 EPS for the current fiscal year.
In other news, major shareholder Teamsun Technology Co. Beijing sold 4,800,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $15.03, for a total value of $72,144,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stan Klimoff sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $19.62, for a total transaction of $78,480.00. Following the completion of the sale, the vice president now directly owns 199,692 shares in the company, valued at approximately $3,917,957.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,131,630 shares of company stock valued at $77,360,689. 15.60% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of GDYN. BlackRock Inc. lifted its holdings in shares of Grid Dynamics by 2.8% during the 1st quarter. BlackRock Inc. now owns 3,029,981 shares of the company's stock worth $48,267,000 after acquiring an additional 81,485 shares during the period. Federated Hermes Inc. increased its stake in shares of Grid Dynamics by 9.8% in the first quarter. Federated Hermes Inc. now owns 3,014,129 shares of the company's stock valued at $48,015,000 after purchasing an additional 269,529 shares during the period. Blair William & Co. IL boosted its holdings in shares of Grid Dynamics by 16.2% in the first quarter. Blair William & Co. IL now owns 907,439 shares of the company's stock valued at $14,456,000 after acquiring an additional 126,205 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Grid Dynamics in the first quarter valued at approximately $11,879,000. Finally, Riverbridge Partners LLC bought a new position in shares of Grid Dynamics in the first quarter valued at approximately $8,469,000. 47.72% of the stock is currently owned by institutional investors and hedge funds.
About Grid Dynamics
Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services for Fortune 1000 corporations in the United States, and Central and Eastern European countries. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.
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