Grab (NASDAQ:GRAB) Stock Rating Lowered by Bank of America

Bank of America cut shares of Grab (NASDAQ:GRAB) from a buy rating to an underperform rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The firm currently has $4.90 target price on the stock.

A number of other analysts have also recently weighed in on GRAB. JPMorgan Chase & Co. boosted 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 lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research report on Thursday, November 21st. Mizuho increased their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.42.

Grab Price Performance

Grab stock opened at $5.14 on Friday. 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 stock has a market capitalization of $20.70 billion, a P/E ratio of -257.00 and a beta of 0.81. The stock has a fifty day moving average of $4.13 and a 200-day moving average of $3.69.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business earned ($0.02) earnings per share. On average, sell-side analysts expect that Grab will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after buying an additional 3,163,309 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Grab during the third quarter valued at $1,986,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Grab during the 3rd quarter worth about $2,757,000. Cohen Capital Management Inc. bought a new position in shares of Grab in the 3rd quarter worth about $1,723,000. Finally, Quadrature Capital Ltd lifted its stake in shares of Grab by 125.0% in the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after purchasing an additional 590,580 shares during the period. 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.