Grab (NASDAQ:GRAB) Downgraded by Hsbc Global Res to Hold

Grab (NASDAQ:GRAB) was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

GRAB has been the topic of several other reports. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research note on Thursday, November 21st. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Bank of America downgraded Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a research note on Friday, November 22nd. Barclays boosted their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, HSBC lowered shares of Grab from a “buy” rating to a “hold” rating and raised their target price for the stock from $4.25 to $5.50 in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.53.

Grab Trading Down 1.9 %

NASDAQ GRAB opened at $5.14 on Thursday. Grab has a 52 week low of $2.90 and a 52 week high of $5.72. The firm has a 50 day moving average of $4.37 and a two-hundred day moving average of $3.78. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $20.70 billion, a PE ratio of -260.00 and a beta of 0.90.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter last year, the company earned ($0.02) EPS. As a group, research analysts expect that Grab will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently modified their holdings of GRAB. Blue Trust Inc. grew its holdings in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC purchased a new stake in shares of Grab in the second quarter valued at $38,000. Traynor Capital Management Inc. acquired a new stake in shares of Grab during the third quarter valued at $41,000. Dorsey & Whitney Trust CO LLC increased its position in Grab by 37.0% during the 2nd 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, Prospect Financial Services LLC purchased a new stake in Grab during the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.