Grab (NASDAQ:GRAB) Shares Gap Up After Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB) gapped up before the market opened on Tuesday after Barclays raised their price target on the stock from $4.70 to $5.50. The stock had previously closed at $4.38, but opened at $4.72. Barclays currently has an overweight rating on the stock. Grab shares last traded at $4.72, with a volume of 23,933,684 shares changing hands.

A number of other brokerages also recently issued reports on GRAB. 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 target on the stock. JPMorgan Chase & Co. increased their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Tuesday. Jefferies Financial Group lowered their price target 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, Evercore ISI increased 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. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.48.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRAB. Caz Investments LP grew its position in Grab by 100.0% during the third quarter. Caz Investments LP now owns 3,700,232 shares of the company’s stock valued at $13,598,000 after acquiring an additional 1,850,116 shares during the last quarter. Glenmede Trust Co. NA bought a new position in Grab during the third quarter valued at approximately $53,000. Tree Line Advisors Hong Kong Ltd. bought a new position in Grab during the third quarter valued at approximately $38,000,000. Dai ichi Life Insurance Company Ltd grew its position in Grab by 13.8% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company’s stock valued at $470,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Citigroup Inc. grew its position in Grab by 83.6% during the third quarter. Citigroup Inc. now owns 14,277,673 shares of the company’s stock valued at $54,255,000 after acquiring an additional 6,503,051 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $3.84 and its 200 day simple moving average is $3.60. The firm has a market capitalization of $19.18 billion, a P/E ratio of -244.50 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results 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 business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same period last year, the business earned ($0.02) earnings per share. Sell-side analysts forecast that Grab Holdings Limited will post -0.04 earnings per share for the current 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.