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

Grid Dynamics (NASDAQ:GDYN) had its target price cut by JPMorgan Chase & Co. from $17.00 to $15.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently commented on GDYN. Cantor Fitzgerald increased their price target on Grid Dynamics from $14.00 to $17.00 and gave the company an overweight rating in a report on Wednesday, March 13th. Citigroup cut their price objective on Grid Dynamics from $17.00 to $15.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $15.75.

Grid Dynamics Price Performance

GDYN stock traded up $0.23 during trading on Thursday, reaching $10.07. 556,407 shares of the stock traded hands, compared to its average volume of 392,910. The business’s 50 day moving average price is $11.74 and its 200-day moving average price is $12.33. Grid Dynamics has a 52-week low of $8.00 and a 52-week high of $14.70. The firm has a market capitalization of $765.02 million, a PE ratio of 335.78 and a beta of 1.00.

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 analysts’ consensus estimates of $0.08 by ($0.01). Grid Dynamics had a net margin of 0.72% and a return on equity of 3.33%. The company had revenue of $78.07 million during the quarter, compared to analyst estimates of $76.64 million. During the same quarter last year, the business posted $0.14 EPS. Grid Dynamics’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that Grid Dynamics will post 0.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Anil Doradla sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 385,979 shares of the company’s stock, valued at $3,859,790. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Grid Dynamics news, CEO Leonard Livschitz sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $10.54, for a total transaction of $105,400.00. Following the completion of the transaction, the chief executive officer now owns 3,660,691 shares in the company, valued at approximately $38,583,683.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anil Doradla sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $10.00, for a total value of $30,000.00. Following the transaction, the chief financial officer now directly owns 385,979 shares in the company, valued at $3,859,790. The disclosure for this sale can be found here. Insiders have sold 88,884 shares of company stock valued at $1,099,255 over the last quarter. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Grid Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of GDYN. SG Americas Securities LLC acquired a new stake in Grid Dynamics during the third quarter valued at approximately $142,000. Summit Creek Advisors LLC lifted its position in shares of Grid Dynamics by 0.4% during the 3rd quarter. Summit Creek Advisors LLC now owns 984,074 shares of the company’s stock valued at $11,986,000 after acquiring an additional 3,564 shares during the last quarter. Barclays PLC boosted its stake in shares of Grid Dynamics by 8.5% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares in the last quarter. Swiss National Bank grew its holdings in shares of Grid Dynamics by 1.1% in the 3rd quarter. Swiss National Bank now owns 123,500 shares of the company’s stock worth $1,504,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Grid Dynamics by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 428,407 shares of the company’s stock worth $5,218,000 after purchasing an additional 29,892 shares during the period. 71.18% of the stock is currently owned by institutional investors.

Grid Dynamics Company Profile

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.