Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Receives Consensus Rating of “Moderate Buy” from Brokerages

by · The Cerbat Gem

Shares of Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $9.40.

A number of analysts have recently commented on the stock. Zacks Research upgraded shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of Grid Dynamics from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Needham & Company LLC raised their target price on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup reaffirmed a “cautious” rating on shares of Grid Dynamics in a research report on Friday, May 29th. Finally, TD Cowen boosted their target price on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, July 31st.

Check Out Our Latest Report on GDYN

Insider Activity at Grid Dynamics

In related news, COO Yury Gryzlov sold 3,918 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $8.00, for a total transaction of $31,344.00. Following the completion of the sale, the chief operating officer owned 503,070 shares in the company, valued at approximately $4,024,560. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,560 shares of company stock valued at $74,132 over the last three months. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Large investors have recently made changes to their positions in the company. Amundi bought a new position in shares of Grid Dynamics in the 1st quarter worth approximately $252,000. AQR Capital Management LLC grew its position in Grid Dynamics by 32.4% during the first quarter. AQR Capital Management LLC now owns 15,484 shares of the company’s stock valued at $242,000 after buying an additional 3,791 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Grid Dynamics by 12.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,590 shares of the company’s stock valued at $573,000 after buying an additional 4,116 shares during the period. Goldman Sachs Group Inc. increased its holdings in Grid Dynamics by 12.4% during the first quarter. Goldman Sachs Group Inc. now owns 319,186 shares of the company’s stock valued at $4,995,000 after buying an additional 35,204 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Grid Dynamics by 35.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 162,714 shares of the company’s stock worth $2,546,000 after acquiring an additional 42,801 shares during the period. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Price Performance

GDYN stock opened at $7.98 on Monday. Grid Dynamics has a 1 year low of $5.11 and a 1 year high of $10.21. The company has a market cap of $647.42 million, a P/E ratio of 399.20 and a beta of 0.89. The firm has a 50-day moving average of $7.07 and a 200 day moving average of $6.53.

Grid Dynamics (NASDAQ:GDYN – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The company had revenue of $108.16 million for the quarter, compared to analyst estimates of $106.55 million. On average, equities research analysts expect that Grid Dynamics will post 0.15 earnings per share for the current fiscal year.

About Grid Dynamics

(Get Free Report)

Grid Dynamics Holdings, Inc is a technology services company that helps enterprises design, build and modernize digital platforms and applications. Its work combines software engineering, cloud computing, data engineering, artificial intelligence and machine learning to support large-scale business transformation initiatives.

The company provides services for digital commerce, supply chain and logistics, financial services, healthcare, manufacturing and other industries. Its offerings include e-commerce and customer-experience solutions, cloud migration and modernization, data platforms, analytics, enterprise application development, and AI-enabled products and services.

Founded in 2006, Grid Dynamics serves enterprise customers internationally through a distributed delivery model spanning North America, Europe and other regions.

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