Grid Dynamics (NASDAQ:GDYN) Reaches New 1-Year High – Should You Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) reached a new 52-week high on Thursday . The stock traded as high as $20.92 and last traded at $20.79, with a volume of 149994 shares changing hands. The stock had previously closed at $20.53.

Analyst Upgrades and Downgrades

GDYN has been the subject of a number of recent research reports. TD Cowen upped their target price on Grid Dynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup upped their price objective on Grid Dynamics from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Grid Dynamics from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC upped their price target on shares of Grid Dynamics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $18.33.

Grid Dynamics Trading Up 7.7 %

The stock’s 50-day moving average price is $18.13 and its 200-day moving average price is $14.60. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 756.92 and a beta of 1.06.

Grid Dynamics (NASDAQ:GDYN) last released its earnings results on Thursday, October 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Grid Dynamics had a net margin of 0.74% and a return on equity of 0.15%. The business had revenue of $87.40 million for the quarter, compared to analyst estimates of $85.09 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. Grid Dynamics’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts predict that Grid Dynamics Holdings, Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $14.56, for a total value of $218,400.00. Following the completion of the sale, the chief executive officer now directly owns 3,460,901 shares in the company, valued at $50,390,718.56. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Anil Doradla sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $17.66, for a total value of $70,640.00. Following the transaction, the chief financial officer now directly owns 376,282 shares in the company, valued at approximately $6,645,140.12. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,000 shares of company stock worth $399,260. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of Grid Dynamics

Several hedge funds have recently bought and sold shares of GDYN. FMR LLC lifted its stake in shares of Grid Dynamics by 38.7% in the third quarter. FMR LLC now owns 2,873 shares of the company’s stock valued at $40,000 after buying an additional 801 shares in the last quarter. Quarry LP raised its holdings in shares of Grid Dynamics by 131.5% in the 3rd quarter. Quarry LP now owns 5,236 shares of the company’s stock worth $73,000 after acquiring an additional 2,974 shares during the last quarter. Hsbc Holdings PLC bought a new position in Grid Dynamics in the 2nd quarter valued at about $117,000. Quantbot Technologies LP acquired a new position in Grid Dynamics during the 3rd quarter valued at about $122,000. Finally, XTX Topco Ltd bought a new stake in Grid Dynamics during the 2nd quarter worth approximately $129,000. Institutional investors and hedge funds own 71.18% of the company’s stock.

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.