Grab (NASDAQ:GRAB) Shares Gap Up – Time to Buy?

Grab Holdings Limited (NASDAQ:GRAB) gapped up before the market opened on Tuesday . The stock had previously closed at $4.45, but opened at $4.64. Grab shares last traded at $4.56, with a volume of 6,165,111 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on GRAB. Barclays increased their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, 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 report on Thursday, November 21st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock’s fifty day moving average is $4.66 and its two-hundred day moving average is $4.44. The firm has a market cap of $18.22 billion, a price-to-earnings ratio of -226.25, a PEG ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. On average, analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the stock. Metis Global Partners LLC boosted its position in shares of Grab by 10.9% during the 3rd quarter. Metis Global Partners LLC now owns 53,262 shares of the company’s stock valued at $202,000 after purchasing an additional 5,221 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Grab by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 203,901 shares of the company’s stock valued at $775,000 after purchasing an additional 9,466 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares in the last quarter. Swiss National Bank boosted its position in shares of Grab by 0.9% during the 3rd quarter. Swiss National Bank now owns 6,274,800 shares of the company’s stock valued at $23,844,000 after purchasing an additional 55,100 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Grab in the third quarter worth about $2,757,000. 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.