Grab (NASDAQ:GRAB) Price Target Raised to $5.50

Grab (NASDAQ:GRAB) had its target price increased by Barclays from $4.70 to $5.50 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on GRAB. Jefferies Financial Group dropped their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Daiwa Capital Markets began coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday. Mizuho lifted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $5.48.

Grab Stock Down 2.2 %

NASDAQ GRAB traded down $0.11 during trading on Wednesday, reaching $4.78. 4,502,634 shares of the company’s stock traded hands, compared to its average volume of 24,432,111. The company’s 50 day simple moving average is $3.84 and its two-hundred day simple moving average is $3.60. Grab has a 12-month low of $2.90 and a 12-month high of $4.93. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of -244.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts forecast that Grab will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of large investors have recently made changes to their positions in GRAB. Allspring Global Investments Holdings LLC raised its stake in Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after acquiring an additional 3,163,309 shares during the last quarter. Cohen Capital Management Inc. acquired a new position in shares of Grab in the third quarter valued at about $1,723,000. Quadrature Capital Ltd raised its stake in shares of Grab by 125.0% in the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock worth $3,348,000 after purchasing an additional 590,580 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Grab by 43.4% during the second quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock worth $18,238,000 after purchasing an additional 1,555,579 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in Grab by 17.8% in the second quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after buying an additional 133,531 shares during the last quarter. 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.