Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) traded down 3.5% during trading on Friday . The company traded as low as $4.95 and last traded at $5.00. 12,681,945 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 25,794,330 shares. The stock had previously closed at $5.18.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on GRAB shares. JPMorgan Chase & Co. increased their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Barclays boosted their target price on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Mizuho increased their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.
Grab Stock Down 3.5 %
The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a market capitalization of $20.14 billion, a PE ratio of -250.00 and a beta of 0.81. The firm’s 50-day simple moving average is $4.25 and its 200 day simple moving average is $3.73.
Grab (NASDAQ:GRAB – Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 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 the consensus estimate of $705.40 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. As a group, equities research analysts forecast that Grab Holdings Limited will post -0.03 earnings per share for the current year.
Hedge Funds Weigh In On Grab
Several hedge funds have recently bought and sold shares of GRAB. Baillie Gifford & Co. acquired a new stake in Grab in the second quarter valued at $166,587,000. Point72 Asset Management L.P. purchased a new stake in shares of Grab in the 2nd quarter worth about $57,696,000. Wellington Management Group LLP grew its stake in Grab by 13.4% in 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 last quarter. Coronation Fund Managers Ltd. increased its holdings in Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after acquiring an additional 10,410,574 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new position in Grab during the third quarter worth about $38,000,000. 55.52% of the stock is owned by hedge funds and other 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.