Grid Dynamics (NASDAQ:GDYN) Price Target Lowered to $15.00 at JPMorgan Chase & Co.

Grid Dynamics (NASDAQ:GDYN) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $17.00 to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 48.51% from the stock’s current price.

A number of other analysts also recently commented on the company. Citigroup lowered their target price 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. Cantor Fitzgerald upped their price objective on Grid Dynamics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $15.25.

Grid Dynamics Price Performance

GDYN traded up $0.19 during trading on Thursday, reaching $10.10. 203,710 shares of the company’s stock were exchanged, compared to its average volume of 306,719. Grid Dynamics has a 1 year low of $8.00 and a 1 year high of $14.70. The company’s fifty day simple moving average is $11.90 and its 200-day simple moving average is $12.36. The stock has a market capitalization of $767.30 million, a P/E ratio of -339.55 and a beta of 1.00.

Grid Dynamics (NASDAQ:GDYN) last issued its earnings results on Thursday, February 22nd. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Grid Dynamics had a positive return on equity of 6.77% and a negative net margin of 0.56%. The business had revenue of $78.07 million for the quarter, compared to analysts’ expectations of $76.64 million. During the same period last year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts forecast that Grid Dynamics will post 0.07 EPS for the current year.

Insider Activity at Grid Dynamics

In related news, CEO Leonard Livschitz sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $13.88, for a total value of $208,200.00. Following the transaction, the chief executive officer now directly owns 3,760,474 shares of the company’s stock, valued at approximately $52,195,379.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Leonard Livschitz sold 15,000 shares of Grid Dynamics stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $13.88, for a total value of $208,200.00. Following the sale, the chief executive officer now directly owns 3,760,474 shares of the company’s stock, valued at $52,195,379.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Anil Doradla sold 4,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $13.26, for a total value of $53,040.00. Following the completion of the transaction, the chief financial officer now directly owns 395,568 shares of the company’s stock, valued at $5,245,231.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,884 shares of company stock valued at $1,069,255. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Grid Dynamics in the 4th quarter valued at about $26,000. SG Americas Securities LLC acquired a new stake in shares of Grid Dynamics in the third quarter valued at approximately $142,000. American Trust lifted its position in Grid Dynamics by 10.1% during the third quarter. American Trust now owns 12,963 shares of the company’s stock worth $158,000 after buying an additional 1,186 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in Grid Dynamics during the third quarter worth $166,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Grid Dynamics by 147.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,246 shares of the company’s stock valued at $203,000 after buying an additional 9,081 shares in the last quarter. 71.18% of the stock is owned by hedge funds and other institutional investors.

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.