Grid Dynamics Holdings, Inc. (NASDAQ:GDYN – Get Rating)’s stock price reached a new 52-week low during mid-day trading on Friday after Cantor Fitzgerald lowered their price target on the stock from $20.00 to $17.00. The stock traded as low as $8.00 and last traded at $9.35, with a volume of 374714 shares. The stock had previously closed at $11.30.
Other research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of Grid Dynamics in a research report on Friday, February 24th. Citigroup upped their target price on Grid Dynamics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, February 24th. Finally, TheStreet cut Grid Dynamics from a “c” rating to a “d+” rating in a research report on Thursday, April 6th.
Insider Activity at Grid Dynamics
In related news, CEO Leonard Livschitz sold 74,296 shares of the company’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $11.82, for a total value of $878,178.72. Following the completion of the sale, the chief executive officer now directly owns 3,274,136 shares of the company’s stock, valued at approximately $38,700,287.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.
Institutional Trading of Grid Dynamics
Grid Dynamics Trading Down 20.0 %
The firm has a market capitalization of $676.09 million, a PE ratio of -21.01 and a beta of 0.84. The business has a 50 day moving average price of $11.25 and a 200-day moving average price of $11.88.
Grid Dynamics (NASDAQ:GDYN – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $80.08 million for the quarter, compared to analysts’ expectations of $79.62 million. Grid Dynamics had a positive return on equity of 12.44% and a negative net margin of 9.41%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, equities research analysts forecast that Grid Dynamics Holdings, Inc. will post 0.48 earnings per share for the current year.
About Grid Dynamics
Grid Dynamics Holdings, Inc provides digital engineering and information technology services. The firm core business is to deliver focused and complex technical consulting, software design, development, testing and internet service operations. It also helps organizations become more agile and create innovative digital products and experiences through its deep expertise in emerging technology, such as AI, data science, cloud computing, big data and DevOps, lean software development practices and a performance product culture.
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