Shares of Grid Dynamics Holdings (NASDAQ:GDYN) have received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $35.17.
Several equities analysts recently weighed in on GDYN shares. Cantor Fitzgerald restated an “overweight” rating on shares of Grid Dynamics in a research note on Monday, July 13th. Zacks Investment Research upgraded Grid Dynamics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Northland Securities restated a “buy” rating and issued a $10.50 price target on shares of Grid Dynamics in a research note on Friday, August 7th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Grid Dynamics in a research note on Thursday. Finally, Loop Capital lifted their price target on Grid Dynamics from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, June 25th.
In related news, Director Shuo Zhang bought 10,395 shares of the stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $7.61 per share, for a total transaction of $79,105.95. Following the acquisition, the director now directly owns 12,399 shares in the company, valued at approximately $94,356.39. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Carney bought 7,200 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average price of $7.25 per share, for a total transaction of $52,200.00. Following the completion of the acquisition, the director now owns 960,297 shares in the company, valued at $6,962,153.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 27,295 shares of company stock valued at $205,989. 19.50% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of GDYN. Morgan Stanley acquired a new position in Grid Dynamics during the first quarter worth $36,000. Strs Ohio acquired a new position in Grid Dynamics during the second quarter worth $38,000. Citigroup Inc. acquired a new position in Grid Dynamics during the first quarter worth $63,000. Wade G W & Inc. acquired a new position in Grid Dynamics during the first quarter worth $80,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Grid Dynamics during the second quarter worth $82,000. Institutional investors and hedge funds own 42.60% of the company’s stock.
Shares of NASDAQ GDYN traded down $0.04 during trading on Tuesday, reaching $7.45. 96,998 shares of the company traded hands, compared to its average volume of 191,841. The company has a fifty day moving average price of $7.20. Grid Dynamics has a 12-month low of $4.61 and a 12-month high of $13.51.
Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.06. The company had revenue of $22.37 million for the quarter, compared to analysts’ expectations of $21.25 million. Sell-side analysts expect that Grid Dynamics will post -0.09 earnings per share for the current year.
Grid Dynamics Company Profile
Grid Dynamics International, Inc is an engineering IT services company, provides transformative and mission-critical cloud solutions for retail, finance, and technology sectors. It offers big data engineering services, including consulting, design, implementation, and operational support of in-stream and batch processing pipelines; QA automation services, including UI, API, mobile, performance, batch processing, technical computing, regression, continuous, and integration testing services; test data and test environment management; quality KPI definition and tracking; test automation framework development; and best practices and toolset workshops; cloud engineering; UI/full stack engineering; release engineering / DevOps; and search engine and mobile application development services.
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