Grab (NASDAQ:GRAB) Stock Price Up 6.6% After Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB) rose 6.6% on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $5.60 price target on the stock. Grab traded as high as $5.29 and last traded at $5.11. Approximately 14,942,758 shares were traded during trading, a decline of 57% from the average daily volume of 35,035,766 shares. The stock had previously closed at $4.79.

Several other research analysts have also commented on GRAB. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and increased their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Thursday. Evercore ISI increased their target price 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, Mizuho lifted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Institutional Trading of Grab

Institutional investors and hedge funds have recently bought and sold shares of the business. Twin Tree Management LP purchased a new position in shares of Grab during the fourth quarter worth $25,000. Campbell Capital Management Inc. acquired a new stake in Grab during the 4th quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in shares of Grab during the 4th quarter valued at about $30,000. TD Private Client Wealth LLC lifted its holdings in shares of Grab by 7,238.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock valued at $38,000 after buying an additional 7,890 shares during the period. Finally, Allianz SE purchased a new stake in shares of Grab in the fourth quarter worth about $44,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Performance

The firm has a fifty day moving average of $4.77 and a 200 day moving average of $4.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The stock has a market capitalization of $20.44 billion, a price-to-earnings ratio of -253.75, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $762.57 million. On average, sell-side analysts anticipate that Grab Holdings Limited will post -0.02 earnings per share for the current fiscal year.

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.