Grid Dynamics (NASDAQ:GDYN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Grid Dynamics (NASDAQ:GDYN) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other analysts also recently issued reports on GDYN. JPMorgan Chase & Co. lifted their price target on Grid Dynamics from $8.00 to $11.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Needham & Company LLC upped their price objective on Grid Dynamics from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. TD Cowen increased their price objective on Grid Dynamics from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, October 30th. Zacks Research lowered Grid Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Grid Dynamics in a research note on Thursday, October 29th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Grid Dynamics currently has an average rating of “Hold” and a consensus target price of $11.80.

Grid Dynamics Stock Up 1.5%

Grid Dynamics stock opened at $13.30 on Friday. The stock has a market capitalization of $1.08 billion, a PE ratio of 65.48 and a beta of 0.88. Grid Dynamics has a twelve month low of $5.11 and a twelve month high of $14.02. The company has a 50 day moving average of $8.79 and a 200-day moving average of $7.13.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.05. The business had revenue of $114.29 million for the quarter, compared to analyst estimates of $112.77 million. Grid Dynamics had a net margin of 1.81% and a return on equity of 3.24%. Equities analysts anticipate that Grid Dynamics will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at Grid Dynamics

In other news, Director Lloyd Carney sold 12,542 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $13.16, for a total transaction of $165,052.72. Following the completion of the transaction, the director directly owned 677,130 shares in the company, valued at $8,911,030.80. This represents a 1.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Yury Gryzlov sold 4,715 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $13.55, for a total value of $63,888.25. Following the completion of the transaction, the chief operating officer owned 480,063 shares of the company’s stock, valued at $6,504,853.65. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 118,339 shares of company stock worth $1,407,567. Insiders own 6.50% of the company’s stock.

Institutional Trading of Grid Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Grid Dynamics by 60.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock worth $47,000 after purchasing an additional 3,122 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Grid Dynamics during the 2nd quarter worth approximately $75,000. FNY Investment Advisers LLC bought a new stake in shares of Grid Dynamics during the 2nd quarter worth approximately $99,000. Vise Technologies Inc. acquired a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $103,000. Finally, StoneX Group Inc. acquired a new stake in shares of Grid Dynamics in the 3rd quarter valued at approximately $120,000. Institutional investors own 71.18% of the company’s stock.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc (NASDAQ: GDYN) is a digital engineering and technology services company that helps enterprises modernize their technology infrastructure and develop data-driven products. Its services include software engineering, cloud computing, data engineering, artificial intelligence and machine learning, user experience design, and application modernization.

The company develops and implements technology solutions for industries including retail and consumer packaged goods, financial services, manufacturing, healthcare, and technology.