Grid Dynamics (NASDAQ:GDYN) Price Target Cut to $15.00

Grid Dynamics (NASDAQ:GDYN - Get Free Report) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $17.00 to $15.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 52.44% from the stock's previous close.

A number of other equities research analysts also recently issued reports on GDYN. Cantor Fitzgerald upped their price objective on Grid Dynamics from $14.00 to $17.00 and gave the company an "overweight" rating in a research report on Wednesday, March 13th. Citigroup decreased their price objective on Grid Dynamics from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.25.

Grid Dynamics Trading Down 0.7 %

Shares of NASDAQ:GDYN traded down $0.07 during mid-day trading on Thursday, reaching $9.84. The stock had a trading volume of 526,001 shares, compared to its average volume of 311,594. The company has a market cap of $747.54 million, a P/E ratio of -327.89 and a beta of 1.00. Grid Dynamics has a 1 year low of $8.00 and a 1 year high of $14.70. The business's 50 day moving average price is $11.82 and its 200 day moving average price is $12.35.

Grid Dynamics (NASDAQ:GDYN - Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The firm had revenue of $78.07 million during the quarter, compared to analysts' expectations of $76.64 million. Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. Grid Dynamics's quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. Analysts predict that Grid Dynamics will post 0.07 earnings per share for the current fiscal year.

Insider Transactions at Grid Dynamics

In other news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at $5,245,231.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Anil Doradla sold 4,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $13.26, for a total value of $53,040.00. Following the sale, the chief financial officer now directly owns 395,568 shares in the company, valued at $5,245,231.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Leonard Livschitz sold 10,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $10.54, for a total value of $105,400.00. Following the completion of the sale, the chief executive officer now owns 3,660,691 shares in the company, valued at $38,583,683.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,884 shares of company stock worth $1,069,255. 7.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Grid Dynamics by 113.9% in the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company's stock worth $18,058,000 after purchasing an additional 789,373 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Grid Dynamics by 5.8% in the third quarter. Public Employees Retirement System of Ohio now owns 271,591 shares of the company's stock worth $3,308,000 after purchasing an additional 14,940 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Grid Dynamics by 41.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 209,208 shares of the company's stock worth $2,789,000 after purchasing an additional 60,906 shares in the last quarter. Barclays PLC grew its stake in Grid Dynamics by 8.5% in the third quarter. Barclays PLC now owns 26,063 shares of the company's stock worth $318,000 after purchasing an additional 2,036 shares in the last quarter. Finally, S Squared Technology LLC grew its stake in Grid Dynamics by 13.5% in the third quarter. S Squared Technology LLC now owns 229,781 shares of the company's stock worth $2,799,000 after purchasing an additional 27,257 shares in the last quarter. 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.