Grid Dynamics Holdings (NASDAQ:GDYN) Expected to Announce Quarterly Sales of $25.15 Million

Wall Street analysts predict that Grid Dynamics Holdings (NASDAQ:GDYN) will announce sales of $25.15 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Grid Dynamics’ earnings. The lowest sales estimate is $25.00 million and the highest is $25.30 million. The business is scheduled to issue its next earnings report after the market closes on Thursday, November 5th.

According to Zacks, analysts expect that Grid Dynamics will report full year sales of $109.20 million for the current financial year, with estimates ranging from $108.80 million to $109.60 million. For the next fiscal year, analysts expect that the firm will report sales of $129.90 million, with estimates ranging from $129.00 million to $130.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Grid Dynamics.

Grid Dynamics (NASDAQ:GDYN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.06. The company had revenue of $22.37 million during the quarter, compared to analysts’ expectations of $21.25 million.

GDYN has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Grid Dynamics in a research note on Thursday, September 3rd. Zacks Investment Research raised Grid Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, October 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Grid Dynamics in a research note on Monday, July 13th. Loop Capital raised their target price on Grid Dynamics from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, Northland Securities reissued a “buy” rating and issued a $10.50 target price on shares of Grid Dynamics in a research note on Friday, August 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.75.

In related news, Director Lloyd Carney purchased 7,200 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average cost of $7.89 per share, with a total value of $56,808.00. Following the transaction, the director now directly owns 967,497 shares in the company, valued at approximately $7,633,551.33. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Shuo Zhang purchased 10,395 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $7.61 per share, for a total transaction of $79,105.95. Following the completion of the transaction, the director now owns 12,399 shares in the company, valued at $94,356.39. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 27,295 shares of company stock worth $205,989. Insiders own 19.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GDYN. Driehaus Capital Management LLC bought a new stake in shares of Grid Dynamics in the 1st quarter worth approximately $18,278,000. Fred Alger Management LLC bought a new stake in shares of Grid Dynamics in the 1st quarter worth approximately $12,381,000. Magnetar Financial LLC bought a new stake in shares of Grid Dynamics in the 1st quarter worth approximately $8,800,000. MSD Partners L.P. purchased a new position in Grid Dynamics in the 1st quarter worth approximately $7,840,000. Finally, Linden Advisors LP purchased a new position in Grid Dynamics in the 1st quarter worth approximately $6,240,000. 42.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GDYN traded up $0.06 during trading hours on Tuesday, hitting $8.46. The company had a trading volume of 397,857 shares, compared to its average volume of 276,955. Grid Dynamics has a 52-week low of $4.61 and a 52-week high of $13.51. The stock’s 50 day moving average price is $7.69 and its 200 day moving average price is $7.75.

About Grid Dynamics

Grid Dynamics International, Inc is an engineering IT services company, provides transformative and mission-critical cloud solutions for retail, finance, and technology sectors. It offers big data engineering services, including consulting, design, implementation, and operational support of in-stream and batch processing pipelines; QA automation services, including UI, API, mobile, performance, batch processing, technical computing, regression, continuous, and integration testing services; test data and test environment management; quality KPI definition and tracking; test automation framework development; and best practices and toolset workshops; cloud engineering; UI/full stack engineering; release engineering / DevOps; and search engine and mobile application development services.

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