Grid Dynamics (NASDAQ:GDYN) Shares Gap Up – Should You Buy?

Grid Dynamics Holdings, Inc. (NASDAQ:GDYN)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $7.88, but opened at $8.23. Grid Dynamics shares last traded at $8.5060, with a volume of 164,474 shares changing hands.

Wall Street Analyst Weigh In

GDYN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on Grid Dynamics from $7.00 to $8.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Grid Dynamics in a research note on Friday, July 31st. TD Cowen increased their price objective on shares of Grid Dynamics from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Needham & Company LLC raised their target price on shares of Grid Dynamics from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Zacks Research upgraded shares of Grid Dynamics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Grid Dynamics Stock Performance

The firm has a fifty day moving average of $7.59 and a 200-day moving average of $6.63. The stock has a market capitalization of $689.85 million, a price-to-earnings ratio of 422.91 and a beta of 0.89.

Grid Dynamics (NASDAQ:GDYN) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Grid Dynamics had a return on equity of 1.90% and a net margin of 0.68%.The company had revenue of $108.16 million for the quarter, compared to analysts’ expectations of $106.55 million. On average, analysts predict that Grid Dynamics Holdings, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling

In other Grid Dynamics news, COO Yury Gryzlov sold 3,930 shares of the company’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 value 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 represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 8,315 shares of company stock worth $66,301. Insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. grew its holdings in Grid Dynamics by 175.5% during the 4th quarter. Hantz Financial Services Inc. now owns 3,229 shares of the company’s stock valued at $29,000 after purchasing an additional 2,057 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Grid Dynamics by 60.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,315 shares of the company’s stock valued at $47,000 after acquiring an additional 3,122 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Grid Dynamics during the second quarter worth $75,000. Aaron Wealth Advisors LLC acquired a new position in shares of Grid Dynamics in the 1st quarter valued at about $98,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Grid Dynamics during the 2nd quarter valued at about $99,000. 71.18% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc is a technology services company that helps enterprises design, build and modernize digital platforms and applications. Its work combines software engineering, cloud computing, data engineering, artificial intelligence and machine learning to support large-scale business transformation initiatives.

The company provides services for digital commerce, supply chain and logistics, financial services, healthcare, manufacturing and other industries. Its offerings include e-commerce and customer-experience solutions, cloud migration and modernization, data platforms, analytics, enterprise application development, and AI-enabled products and services.

Founded in 2006, Grid Dynamics serves enterprise customers internationally through a distributed delivery model spanning North America, Europe and other regions.