Grab (NASDAQ:GRAB) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Grab (NASDAQ:GRAB) from an overweight rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports.

A number of other analysts have also weighed in on GRAB. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday, November 21st. Mizuho raised their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.54.

Grab Stock Up 2.6 %

Shares of GRAB opened at $4.79 on Wednesday. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. The firm’s 50 day moving average is $4.82 and its 200-day moving average is $4.16. The stock has a market capitalization of $19.29 billion, a PE ratio of -239.50, a P/E/G ratio of 1.91 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) 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 net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the business posted ($0.02) EPS. Equities research analysts forecast that Grab will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Grab

Hedge funds have recently bought and sold shares of the company. Perpetual Ltd bought a new stake in Grab in the fourth quarter valued at $213,177,000. Wellington Management Group LLP increased its stake in Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new stake in Grab in the third quarter valued at $38,000,000. Assenagon Asset Management S.A. increased its stake in Grab by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after purchasing an additional 8,868,071 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Grab by 179.6% in the third 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 in the last quarter. Institutional investors own 55.52% of the company’s stock.

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.