Grab (NASDAQ:GRAB) Upgraded to “Buy” at HSBC

HSBC upgraded shares of Grab (NASDAQ:GRAB) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has $5.45 price objective on the stock, down from their previous price objective of $5.50.

Several other equities analysts have also weighed in on the stock. Barclays upped their price objective on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.54.

Grab Stock Up 12.6 %

Shares of Grab stock opened at $5.11 on Tuesday. The stock’s 50-day moving average is $4.85 and its 200 day moving average is $4.15. Grab has a one year low of $2.98 and a one year high of $5.72. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of -255.50, a PEG ratio of 1.91 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same period in the prior year, the business earned ($0.02) EPS. Equities research analysts anticipate that Grab will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new position in shares of Grab in the fourth quarter valued at approximately $30,000. Blue Trust Inc. grew its stake in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new stake in shares of Grab during the 3rd quarter worth $41,000. SeaBridge Investment Advisors LLC purchased a new position in shares of Grab in the 4th quarter worth about $48,000. Finally, Atria Wealth Solutions Inc. bought a new position in Grab during the fourth quarter valued at about $49,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

About Grab

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.