JPMorgan Chase & Co. Upgrades Grab (NASDAQ:GRAB) to Overweight

Grab (NASDAQ:GRAB) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Friday, Marketbeat.com reports. The firm presently has a $5.60 price objective on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.15% from the company’s current price.

GRAB has been the subject of several other research reports. Mizuho raised their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and cut their target price for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a research report on Thursday, November 21st. Finally, Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Price Performance

Shares of GRAB stock opened at $4.78 on Friday. The stock has a 50 day moving average of $4.77 and a two-hundred day moving average of $4.27. The company has a current ratio of 2.70, a quick ratio of 2.67 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 capitalization of $19.25 billion, a P/E ratio of -239.00, a P/E/G ratio of 2.23 and a beta of 0.90.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. As a group, equities analysts expect that Grab will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Grab

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ellevest Inc. increased its stake in shares of Grab by 3.3% in the 4th quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock valued at $391,000 after buying an additional 2,636 shares during the period. Empowered Funds LLC increased its stake in shares of Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after buying an additional 3,147 shares during the period. Blue Trust Inc. increased its stake in shares of Grab by 53.6% in the 3rd 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. FNY Investment Advisers LLC increased its stake in shares of Grab by 13.9% in the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after buying an additional 3,500 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Grab by 19.1% in the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares during the period. 55.52% of the stock is 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.