HSBC Upgrades Grab (NASDAQ:GRAB) to Buy

Grab (NASDAQ:GRAB) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a $5.45 target price on the stock, down from their prior target price of $5.50. HSBC’s price objective points to a potential upside of 19.52% from the company’s current price.

GRAB has been the topic of a number of other reports. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Evercore ISI upped their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Mizuho increased their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.56 on Tuesday. The company’s fifty day moving average is $4.84 and its two-hundred day moving average is $4.15. 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 has a 12-month low of $2.98 and a 12-month high of $5.72. The company has a market cap of $18.36 billion, a P/E ratio of -228.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90.

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

Institutional Investors Weigh In On Grab

A number of hedge funds have recently bought and sold shares of GRAB. Global Retirement Partners LLC bought a new stake in Grab during the fourth quarter valued at about $30,000. Blue Trust Inc. lifted its stake in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new stake in shares of Grab in the third quarter valued at about $41,000. SeaBridge Investment Advisors LLC bought a new stake in shares of Grab in the fourth quarter valued at about $48,000. Finally, New York Life Investment Management LLC bought a new stake in shares of Grab in the fourth quarter valued at about $48,000. 55.52% of the stock is currently owned by 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.