Gridsum Holding Inc – (NASDAQ:GSUM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The firm currently has a $15.00 price target on the stock. Zacks Investment Research’s price target would suggest a potential upside of 10.29% from the stock’s previous close.

According to Zacks, “Gridsum Holding Inc. is a provider of data analysis software for multinational and domestic enterprises and government agencies primarily in China. The Company’s technology, the Gridsum Big Data Platform performs multi-dimensional correlation analysis and analyzes real-time events. Gridsum Holding Inc. is based in Beijing, China. “

Shares of Gridsum Holding Inc – (NASDAQ:GSUM) traded up 4.13% during mid-day trading on Monday, reaching $13.60. 36,659 shares of the company were exchanged. The company’s 50 day moving average price is $12.03 and its 200 day moving average price is $13.45. Gridsum Holding Inc – has a 12 month low of $9.90 and a 12 month high of $18.29. The firm’s market capitalization is $390.73 million.

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Several hedge funds have recently modified their holdings of the company. Marshall Wace LLP raised its stake in shares of Gridsum Holding Inc – by 31.6% in the fourth quarter. Marshall Wace LLP now owns 174,559 shares of the company’s stock worth $1,779,000 after buying an additional 41,886 shares in the last quarter. Matthews International Capital Management LLC raised its stake in shares of Gridsum Holding Inc – by 4.0% in the fourth quarter. Matthews International Capital Management LLC now owns 15,600 shares of the company’s stock worth $159,000 after buying an additional 600 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Gridsum Holding Inc – during the fourth quarter worth $184,000.

About Gridsum Holding Inc –

Gridsum Holding Inc is a holding company. The Company provides data analysis software for multinational and domestic enterprises, and government agencies in China. The Company’s technology, the Gridsum Big Data Platform performs multi-dimensional correlation analysis and analyzes real-time events. The Company offers various types of solutions and technologies.

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