Grab (NASDAQ:GRAB) Price Target Raised to $8.00

Grab (NASDAQ:GRAB) had its price target raised by Evercore ISI from $7.00 to $8.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. Daiwa Capital Markets initiated coverage on shares of Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. Jefferies Financial Group dropped their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab has an average rating of “Buy” and an average target price of $5.48.

Grab Stock Down 0.6 %

Shares of NASDAQ:GRAB traded down $0.03 on Tuesday, reaching $4.70. 21,025,111 shares of the company’s stock were exchanged, compared to its average volume of 24,585,615. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.93. The business’s 50-day moving average is $3.87 and its two-hundred day moving average is $3.61. The company has a quick ratio of 2.97, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter last year, the company earned ($0.02) EPS. As a group, equities analysts predict that Grab will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC grew its position in Grab by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after buying an additional 3,020 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Grab by 53.6% during 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 in the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after purchasing an additional 3,941 shares in the last quarter. Institutional investors 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.