Grab (NASDAQ:GRAB) Upgraded to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of Grab (NASDAQ:GRAB) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

GRAB has been the topic of several other research reports. HSBC raised 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. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Mizuho lifted their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Finally, Evercore ISI boosted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.54.

Grab Price Performance

NASDAQ GRAB opened at $5.11 on Tuesday. The stock’s 50-day moving average price is $4.85 and its two-hundred day moving average price is $4.15. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The company has a market cap of $20.58 billion, a PE ratio of -255.50, a PEG ratio of 1.91 and a beta of 0.90. Grab has a 1 year low of $2.98 and a 1 year high of $5.72.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data 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 the consensus estimate of $705.40 million. During the same quarter in the previous year, the company earned ($0.02) EPS. On average, analysts predict 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 GRAB. Dimensional Fund Advisors LP lifted its holdings in Grab by 168.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 221,135 shares of the company’s stock worth $785,000 after purchasing an additional 138,620 shares during the last quarter. Algert Global LLC acquired a new position in shares of Grab during the second quarter worth approximately $314,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Grab during the second quarter worth approximately $73,000. Miracle Mile Advisors LLC lifted its holdings in shares of Grab by 193.9% during the third quarter. Miracle Mile Advisors LLC now owns 30,317 shares of the company’s stock worth $115,000 after buying an additional 20,000 shares during the last quarter. Finally, Affinity Wealth Management LLC acquired a new position in shares of Grab during the third quarter worth approximately $3,798,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.