Grab (NASDAQ:GRAB) Given New $8.00 Price Target at Evercore ISI

Grab (NASDAQ:GRAB) had its price target boosted by Evercore ISI from $7.00 to $8.00 in a research report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other research analysts have also recently commented on GRAB. Jefferies Financial Group decreased their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Daiwa Capital Markets started coverage on shares of Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $5.48.

Grab Stock Performance

Shares of GRAB traded down $0.03 during midday trading on Tuesday, hitting $4.70. The stock had a trading volume of 21,025,111 shares, compared to its average volume of 24,585,615. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.93. The business has a 50-day simple moving average of $3.87 and a two-hundred day simple moving average of $3.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same period last year, the company posted ($0.02) earnings per share. Equities analysts expect that Grab will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of Grab

A number of institutional investors have recently added to or reduced their stakes in GRAB. Baillie Gifford & Co. acquired a new stake in Grab in the second quarter valued at approximately $166,587,000. Point72 Asset Management L.P. acquired a new stake in Grab in the second quarter valued at approximately $57,696,000. Coronation Fund Managers Ltd. lifted its stake in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after acquiring an additional 10,410,574 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. acquired a new stake in Grab in the third quarter valued at approximately $38,000,000. Finally, Marshall Wace LLP lifted its stake in Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after acquiring an additional 8,635,310 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.