Grab (NASDAQ:GRAB) Shares Gap Up – Should You Buy?

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.50, but opened at $4.68. Grab shares last traded at $4.58, with a volume of 4,153,015 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Mizuho raised their price target on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Benchmark reissued a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. China Renaissance cut 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. Finally, HSBC lowered shares of Grab from a “buy” rating to a “hold” rating and raised their price target for the company from $4.25 to $5.50 in a report on Thursday, December 5th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and an average price target of $5.55.

Grab Price Performance

The stock has a market cap of $18.50 billion, a price-to-earnings ratio of -229.75, a PEG ratio of 1.77 and a beta of 0.90. The company has a 50 day simple moving average of $4.96 and a 200-day simple moving average of $4.06. The company has a quick ratio of 2.67, a current ratio of 2.70 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 company had revenue of $716.00 million for 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 period last year, the firm posted ($0.02) EPS. As a group, research analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GRAB. Mutual Advisors LLC bought a new position in shares of Grab in the fourth quarter valued at approximately $115,000. Traynor Capital Management Inc. boosted its stake in Grab by 47.7% during the fourth quarter. Traynor Capital Management Inc. now owns 15,800 shares of the company’s stock valued at $75,000 after buying an additional 5,100 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Grab in the 4th quarter worth approximately $213,177,000. Assenagon Asset Management S.A. lifted its position in shares of Grab by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after acquiring an additional 8,868,071 shares during the last quarter. Finally, Leibman Financial Services Inc. acquired a new position in shares of Grab in the 4th quarter worth $937,000. 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.