Grab (NASDAQ:GRAB) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Grab (NASDAQ:GRAB) from an overweight rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat.com reports.

A number of other equities research analysts also recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Evercore ISI lifted their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Finally, Daiwa Capital Markets initiated coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Down 10.8 %

NASDAQ:GRAB opened at $4.56 on Wednesday. The business’s fifty day moving average price is $4.84 and its 200 day moving average price is $4.15. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of -228.00, a PEG ratio of 1.91 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab has a 1-year low of $2.98 and a 1-year high of $5.72.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts forecast that Grab will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Smartleaf Asset Management LLC lifted its stake in shares of Grab by 570.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 13,234 shares of the company’s stock worth $63,000 after buying an additional 11,259 shares during the last quarter. US Bancorp DE raised its holdings in Grab by 4,851.4% in the 4th quarter. US Bancorp DE now owns 328,578 shares of the company’s stock worth $1,551,000 after acquiring an additional 321,942 shares during the period. Kovack Advisors Inc. acquired a new position in Grab during the 4th quarter worth $233,000. New York Life Investment Management LLC bought a new stake in Grab during the fourth quarter valued at about $48,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Grab by 49.6% in the fourth quarter. Los Angeles Capital Management LLC now owns 89,040 shares of the company’s stock valued at $420,000 after purchasing an additional 29,538 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

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.