Barclays Issues Positive Forecast for Grab (NASDAQ:GRAB) Stock Price

Grab (NASDAQ:GRAB) had its price target increased by analysts at Barclays from $5.50 to $6.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 32.65% from the stock’s previous close.

GRAB has been the subject of several other research reports. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and lowered their target price for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Mizuho lifted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI increased their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. downgraded shares of Grab from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Stock Performance

Shares of GRAB stock opened at $4.90 on Thursday. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of -245.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab has a one year low of $2.98 and a one year high of $5.72. The company’s 50-day moving average is $4.76 and its 200 day moving average is $4.28.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Sell-side analysts expect that Grab will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Institutional investors have recently bought and sold shares of the stock. Uber Technologies Inc bought a new stake in Grab during the fourth quarter valued at about $2,529,462,000. Toyota Motor Corp purchased a new position in shares of Grab during the 4th quarter valued at about $1,052,117,000. Wellington Management Group LLP grew its stake in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after acquiring an additional 14,671,388 shares during the period. Hanwha Asset Management Co. Ltd. purchased a new stake in Grab in the 4th quarter worth approximately $227,718,000. Finally, Baillie Gifford & Co. raised its stake in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after acquiring an additional 4,259,537 shares during the period. 55.52% of the stock is owned by institutional investors.

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.