Grid Dynamics (NASDAQ:GDYN) PT Lowered to $15.00

Grid Dynamics (NASDAQ:GDYN) had its target price cut by Citigroup from $17.00 to $15.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on GDYN. Cantor Fitzgerald upped their price objective on shares of Grid Dynamics from $14.00 to $17.00 and gave the stock an overweight rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. upped their price objective on shares of Grid Dynamics from $16.00 to $17.00 and gave the stock an overweight rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a buy rating, According to MarketBeat, Grid Dynamics currently has an average rating of Buy and an average price target of $15.75.

Grid Dynamics Price Performance

GDYN opened at $9.94 on Monday. The firm has a fifty day moving average price of $12.22 and a 200 day moving average price of $12.45. Grid Dynamics has a 1 year low of $8.00 and a 1 year high of $14.70. The stock has a market cap of $755.14 million, a P/E ratio of -331.22 and a beta of 0.94.

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

Insider Transactions at Grid Dynamics

In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.54, for a total transaction of $105,400.00. Following the completion of the sale, the chief executive officer now owns 3,660,691 shares of the company’s stock, valued at $38,583,683.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Leonard Livschitz sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $10.54, for a total transaction of $105,400.00. Following the completion of the sale, the chief executive officer now owns 3,660,691 shares of the company’s stock, valued at $38,583,683.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $13.26, for a total transaction of $53,040.00. Following the sale, the chief financial officer now directly owns 395,568 shares of the company’s stock, valued at approximately $5,245,231.68. The disclosure for this sale can be found here. Insiders sold 100,884 shares of company stock valued at $1,265,155 over the last 90 days. 7.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grid Dynamics

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Grid Dynamics by 113.9% in the third quarter. Wellington Management Group LLP now owns 1,482,626 shares of the company’s stock valued at $18,058,000 after purchasing an additional 789,373 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of 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 valued at $3,308,000 after purchasing an additional 14,940 shares during the period. Mutual of America Capital Management LLC grew its holdings in shares of 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 valued at $2,789,000 after purchasing an additional 60,906 shares during the period. Barclays PLC grew its holdings in shares of Grid Dynamics by 8.5% in the third quarter. Barclays PLC now owns 26,063 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the period. Finally, S Squared Technology LLC grew its holdings in shares of Grid Dynamics by 13.5% in the third quarter. S Squared Technology LLC now owns 229,781 shares of the company’s stock valued at $2,799,000 after purchasing an additional 27,257 shares during the period. 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.