Grab (NASDAQ:GRAB) Shares Gap Down – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $5.11, but opened at $4.80. Grab shares last traded at $4.87, with a volume of 8,056,588 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Mizuho raised their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays lifted their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a 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 MarketBeat.com, Grab has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Price 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 has a market cap of $18.91 billion, a price-to-earnings ratio of -234.75, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. The company has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $4.15.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, equities research analysts forecast that Grab Holdings Limited will post -0.02 EPS for the current year.

Institutional Trading of Grab

Several institutional investors have recently added to or reduced their stakes in GRAB. Wellington Management Group LLP lifted its position in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after acquiring an additional 14,671,388 shares during the period. Baillie Gifford & Co. lifted its position in shares of Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after acquiring an additional 4,259,537 shares during the period. Perpetual Ltd bought a new stake in shares of Grab during the 4th quarter valued at $213,177,000. State Street Corp lifted its position in shares of Grab by 2.3% during the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after buying an additional 967,233 shares during the last quarter. Finally, Coronation Fund Managers Ltd. lifted its position in shares of Grab by 11.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock worth $128,196,000 after buying an additional 3,442,581 shares during the last quarter. 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.