Grab (NASDAQ:GRAB) Rating Increased to Neutral at Bank of America

Grab (NASDAQ:GRAB) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a $5.10 price target on the stock, up from their prior price target of $4.90. Bank of America‘s price objective would indicate a potential upside of 10.15% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. HSBC lowered shares of Grab from a “buy” rating to a “hold” rating and upped their price target for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $5.55.

Grab Stock Down 2.3 %

Shares of NASDAQ:GRAB opened at $4.63 on Tuesday. The firm has a market capitalization of $18.65 billion, a PE ratio of -231.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab has a 52-week low of $2.90 and a 52-week high of $5.72. The firm has a fifty day moving average of $4.91 and a 200 day moving average of $4.00.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm 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 period in the prior year, the company earned ($0.02) EPS. As a group, research analysts anticipate that Grab will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Grab during the 2nd quarter valued at about $57,696,000. Wellington Management Group LLP boosted its position in Grab by 13.4% during 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 in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new position in shares of Grab during the 3rd quarter worth approximately $38,000,000. Marshall Wace LLP raised its position in shares of Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after acquiring an additional 8,635,310 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Grab by 179.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after purchasing an additional 8,004,912 shares during the period. 55.52% of the stock is owned by hedge funds and other 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.