Grid Dynamics (NASDAQ:GDYN) Stock Rating Reaffirmed by Cantor Fitzgerald

Grid Dynamics (NASDAQ:GDYN)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They currently have a $14.00 price objective on the stock. Cantor Fitzgerald’s price target points to a potential upside of 15.32% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $14.00 price target on shares of Grid Dynamics in a report on Friday, August 4th. JPMorgan Chase & Co. upped their target price on Grid Dynamics from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 22nd. Four research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $14.00.

Grid Dynamics Price Performance

GDYN stock traded up $0.03 during midday trading on Friday, reaching $12.14. 103,440 shares of the company’s stock traded hands, compared to its average volume of 429,993. Grid Dynamics has a fifty-two week low of $8.00 and a fifty-two week high of $14.16. The business has a 50-day moving average price of $11.63 and a two-hundred day moving average price of $10.62. The company has a market capitalization of $917.66 million, a P/E ratio of -75.88 and a beta of 0.80.

Insiders Place Their Bets

In other news, Director Lloyd Carney sold 18,400 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $11.61, for a total transaction of $213,624.00. Following the completion of the sale, the director now directly owns 659,262 shares in the company, valued at $7,654,031.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grid Dynamics

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in shares of Grid Dynamics by 191.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,478 shares of the company’s stock worth $41,000 after buying an additional 2,944 shares during the last quarter. UBS Group AG increased its position in shares of Grid Dynamics by 412.4% in the 3rd quarter. UBS Group AG now owns 2,275 shares of the company’s stock worth $43,000 after purchasing an additional 1,831 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of Grid Dynamics by 131.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 3,946 shares of the company’s stock valued at $45,000 after purchasing an additional 2,238 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Grid Dynamics by 197.2% during the second quarter. Captrust Financial Advisors now owns 4,619 shares of the company’s stock worth $78,000 after purchasing an additional 3,065 shares during the last quarter. Finally, Acadian Asset Management LLC grew its stake in Grid Dynamics by 239.0% in the first quarter. Acadian Asset Management LLC now owns 5,837 shares of the company’s stock worth $82,000 after purchasing an additional 4,115 shares in the last quarter. 69.68% of the stock is owned by institutional investors and hedge funds.

Grid Dynamics Company Profile

Grid Dynamics Holdings, Inc, together with its subsidiaries, provides enterprise-level digital transformation services in the areas of search, analytics, and release automation for Fortune 1000 corporations in North America, Europe, and internationally. It works in collaboration with its clients on digital transformation initiatives that cover strategy consulting, early prototypes, and enterprise-scale delivery of new digital platforms.