Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $9.40.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. TD Cowen increased their price objective on shares of Grid Dynamics from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, July 31st. Needham & Company LLC boosted 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. Zacks Research upgraded shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research report on Friday, July 31st.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 3,930 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $8.00, for a total transaction of $31,440.00. Following the completion of the transaction, the chief operating officer owned 508,087 shares in the company, valued at $4,064,696. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,560 shares of company stock worth $76,833 over the last three months. 6.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grid Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fourth Sail Capital LP increased its stake in Grid Dynamics by 36.2% during the fourth quarter. Fourth Sail Capital LP now owns 3,827,968 shares of the company’s stock worth $34,567,000 after acquiring an additional 1,016,563 shares during the last quarter. Bastion Asset Management Inc. bought a new position in Grid Dynamics in the 1st quarter worth about $6,899,000. 1492 Capital Management LLC increased its holdings in Grid Dynamics by 40.8% during the 4th quarter. 1492 Capital Management LLC now owns 809,951 shares of the company’s stock worth $7,314,000 after purchasing an additional 234,694 shares during the period. S Squared Technology LLC raised its position in Grid Dynamics by 109.3% during the 4th quarter. S Squared Technology LLC now owns 636,737 shares of the company’s stock valued at $5,750,000 after purchasing an additional 332,499 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Grid Dynamics during the 2nd quarter valued at $2,702,000. 71.18% of the stock is owned by hedge funds and other institutional investors.

Grid Dynamics Stock Performance

GDYN opened at $7.82 on Friday. The stock has a market cap of $634.44 million, a price-to-earnings ratio of 391.20 and a beta of 0.97. The firm’s fifty day moving average is $7.76 and its 200 day moving average is $6.68. Grid Dynamics has a fifty-two week low of $5.11 and a fifty-two week high of $10.21.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $108.16 million during the quarter, compared to analyst estimates of $106.55 million. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%. On average, equities research analysts predict that Grid Dynamics will post 0.2 earnings per share for the current year.

About Grid Dynamics

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their businesses through software development, cloud computing, data and analytics, and artificial intelligence. The company designs and builds technology platforms intended to improve operational efficiency, customer experiences, and the use of enterprise data.

Its services include digital commerce and customer experience solutions, cloud and data engineering, machine learning and artificial intelligence, application modernization, and software product development.