Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) have received a consensus recommendation of “Buy” from the five brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.75.
GDYN has been the topic of several recent analyst reports. Needham & Company LLC boosted their price target on Grid Dynamics from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Wall Street Zen cut Grid Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, May 30th.
Read Our Latest Report on Grid Dynamics
Grid Dynamics Stock Up 0.4%
Grid Dynamics (NASDAQ:GDYN – Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Grid Dynamics had a negative return on equity of 0.33% and a net margin of 1.15%. The firm had revenue of $100.42 million during the quarter, compared to the consensus estimate of $98.19 million. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. Sell-side analysts expect that Grid Dynamics will post 0.18 earnings per share for the current fiscal year.
Insider Buying and Selling at Grid Dynamics
In other Grid Dynamics news, COO Yury Gryzlov sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $16.77, for a total transaction of $33,540.00. Following the sale, the chief operating officer now owns 480,759 shares in the company, valued at $8,062,328.43. This represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 8,737 shares of company stock worth $135,028 over the last quarter. 7.20% of the stock is owned by corporate insiders.
Institutional Trading of Grid Dynamics
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming raised its position in shares of Grid Dynamics by 4.1% during the 4th quarter. State of Wyoming now owns 26,495 shares of the company’s stock worth $589,000 after purchasing an additional 1,046 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of Grid Dynamics during the 4th quarter worth approximately $25,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Grid Dynamics by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,474 shares of the company’s stock worth $722,000 after purchasing an additional 1,106 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Grid Dynamics during the 4th quarter worth approximately $27,000. Finally, Arizona State Retirement System raised its position in shares of Grid Dynamics by 7.6% during the 4th quarter. Arizona State Retirement System now owns 17,785 shares of the company’s stock worth $396,000 after purchasing an additional 1,260 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.
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.
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