Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Has Average Price Target of $9.40

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.80.

A number of research firms have weighed in on GDYN. Zacks Research cut Grid Dynamics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. TD Cowen raised their target price on Grid Dynamics from $9.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Grid Dynamics from $8.00 to $11.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a report on Thursday. Finally, Needham & Company LLC upped their price target on shares of Grid Dynamics from $10.00 to $15.00 and gave the company a “buy” rating in a report on Friday.

Grid Dynamics Trading Up 2.5%

Shares of NASDAQ GDYN opened at $13.69 on Tuesday. The stock has a fifty day moving average price of $8.24 and a 200 day moving average price of $7.02. Grid Dynamics has a 12-month low of $5.11 and a 12-month high of $14.02. The company has a market cap of $1.11 billion, a P/E ratio of 152.11 and a beta of 0.97.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. The company had revenue of $114.29 million for the quarter, compared to analysts’ expectations of $112.77 million. On average, sell-side analysts forecast that Grid Dynamics will post 0.20 EPS for the current fiscal year.

Insider Activity at Grid Dynamics

In other Grid Dynamics news, COO Yury Gryzlov sold 10,512 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $10.51, for a total transaction of $110,481.12. Following the completion of the transaction, the chief operating officer directly owned 484,778 shares of the company’s stock, valued at approximately $5,095,016.78. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anil Doradla sold 20,000 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $10.51, for a total value of $210,200.00. Following the transaction, the chief financial officer directly owned 374,509 shares of the company’s stock, valued at $3,936,089.59. This represents a 5.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 44,921 shares of company stock worth $436,306. 6.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bastion Asset Management Inc. acquired a new stake in Grid Dynamics during the 1st quarter worth about $6,899,000. Squarepoint Ops LLC purchased a new stake in shares of Grid Dynamics in the second quarter valued at $2,702,000. Summit Creek Advisors LLC acquired a new stake in shares of Grid Dynamics in the second quarter worth $2,452,000. Walleye Capital LLC purchased a new position in shares of Grid Dynamics during the first quarter valued at $1,007,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Grid Dynamics by 460.4% during the first quarter. Quantinno Capital Management LP now owns 206,289 shares of the company’s stock valued at $1,176,000 after buying an additional 169,477 shares in the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.