Mizuho Raises Grab (NASDAQ:GRAB) Price Target to $6.00

Grab (NASDAQ:GRAB) had its price target lifted by Mizuho from $5.00 to $6.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently weighed in on GRAB. Jefferies Financial Group dropped 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. Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. Evercore ISI increased their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $5.48.

Grab Price Performance

NASDAQ:GRAB opened at $4.73 on Wednesday. Grab has a 52 week low of $2.90 and a 52 week high of $4.93. The stock’s fifty day moving average is $3.90 and its two-hundred day moving average is $3.61. The company has a market capitalization of $18.56 billion, a P/E ratio of -236.50 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned ($0.02) EPS. Equities analysts expect that Grab will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in Grab by 18.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after acquiring an additional 3,163,309 shares during the last quarter. Cohen Capital Management Inc. purchased a new stake in shares of Grab during the 3rd quarter worth $1,723,000. Quadrature Capital Ltd grew its stake in shares of Grab by 125.0% during the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock worth $3,348,000 after purchasing an additional 590,580 shares in the last quarter. Toronto Dominion Bank increased its holdings in Grab by 43.4% in the second quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after buying an additional 1,555,579 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in Grab by 17.8% in the second quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after buying an additional 133,531 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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.