Grab (NASDAQ:GRAB) Trading 9.8% Higher After Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB – Get Rating)’s share price was up 9.8% during mid-day trading on Monday after HSBC raised their price target on the stock from $4.03 to $4.20. The stock traded as high as $3.03 and last traded at $3.03. Approximately 10,353,655 shares were traded during trading, a decline of 37% from the average daily volume of 16,508,318 shares. The stock had previously closed at $2.76.

Other research analysts have also issued reports about the stock. Citigroup cut their target price on shares of Grab from $5.00 to $4.80 and set a “buy” rating for the company in a report on Friday, April 21st. Benchmark started coverage on shares of Grab in a report on Thursday, April 20th. They issued a “buy” rating and a $4.00 target price for the company. Loop Capital cut their target price on shares of Grab from $5.00 to $4.00 in a report on Wednesday, April 12th. Macquarie assumed coverage on shares of Grab in a report on Monday, March 13th. They issued an “outperform” rating and a $4.00 target price for the company. Finally, JPMorgan Chase & Co. lowered shares of Grab from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $3.20 to $2.80 in a research note on Wednesday, February 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.87.

Institutional Trading of Grab

Large investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Grab during the fourth quarter valued at $25,000. Arena Capital Advisors LLC CA purchased a new stake in shares of Grab during the first quarter valued at $35,000. SVB Wealth LLC purchased a new stake in shares of Grab during the third quarter valued at $27,000. Commerce Bank bought a new stake in shares of Grab in the first quarter valued at about $31,000. Finally, Stifel Financial Corp bought a new stake in shares of Grab in the first quarter valued at about $33,000. 46.57% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 5.19 and a quick ratio of 5.14. The firm has a fifty day moving average of $2.97 and a two-hundred day moving average of $3.17. The stock has a market capitalization of $11.47 billion, a P/E ratio of -7.85 and a beta of 0.77.

Grab (NASDAQ:GRAB – Get Rating) last released its quarterly earnings data on Thursday, May 18th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $505.00 million. Grab had a negative return on equity of 21.78% and a negative net margin of 86.94%. The firm’s quarterly revenue was up 130.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) earnings per share. On average, analysts predict that Grab Holdings Limited will post -0.17 EPS for the current year.

Grab Company Profile

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Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.