Grab (NASDAQ:GRAB – Free Report) had its price objective lifted by Mizuho from $5.00 to $6.00 in a report released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.
Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Tuesday. Jefferies Financial Group decreased their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Evercore ISI boosted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Daiwa Capital Markets assumed coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.48.
Grab Stock Performance
NASDAQ GRAB remained flat at $4.89 on Wednesday. 80,134,188 shares of the company’s stock traded hands, compared to its average volume of 24,522,389. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $3.81 and a two-hundred day simple moving average of $3.59. Grab has a 1 year low of $2.90 and a 1 year high of $4.93.
Grab (NASDAQ:GRAB – Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. As a group, research analysts anticipate that Grab will post -0.04 EPS for the current year.
Institutional Investors Weigh In On Grab
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC increased its position in shares of Grab by 8.1% during the second 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 during the period. Empowered Funds LLC boosted its stake in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after buying an additional 3,147 shares in the last quarter. Blue Trust Inc. raised its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after purchasing an additional 3,941 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.
About Grab
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.