Grab (NASDAQ:GRAB) Stock Price Down 2.9%

Grab Holdings Limited (NASDAQ:GRAB)’s share price fell 2.9% on Friday . The stock traded as low as $3.62 and last traded at $3.62. 627,934 shares were traded during mid-day trading, a decline of 96% from the average session volume of 17,283,691 shares. The stock had previously closed at $3.73.

Wall Street Analyst Weigh In

GRAB has been the subject of a number of recent research reports. Citigroup increased their price objective on Grab from $4.80 to $5.20 and gave the company a “buy” rating in a report on Thursday, August 24th. JPMorgan Chase & Co. upgraded Grab from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $2.55 to $3.10 in a research report on Wednesday, June 21st. Benchmark upped their target price on Grab from $4.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Evercore ISI increased their target price on shares of Grab from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Finally, HSBC boosted their price target on shares of Grab from $4.03 to $4.20 in a research report on Friday, May 19th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.69.

Grab Trading Down 1.1 %

The business has a fifty day simple moving average of $3.58 and a 200-day simple moving average of $3.25. The company has a current ratio of 4.85, a quick ratio of 4.81 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last issued its earnings results on Wednesday, August 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. Grab had a negative net margin of 55.26% and a negative return on equity of 16.50%. The business had revenue of $567.00 million for the quarter, compared to analyst estimates of $549.33 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Grab’s revenue was up 76.6% on a year-over-year basis. As a group, sell-side analysts forecast that Grab Holdings Limited will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Grab during the fourth quarter valued at approximately $25,000. Kore Private Wealth LLC acquired a new stake in Grab in the 2nd quarter valued at $29,000. Commerce Bank bought a new stake in Grab during the 1st quarter valued at $31,000. Stifel Financial Corp acquired a new position in Grab during the first quarter worth $33,000. Finally, Achmea Investment Management B.V. lifted its stake in shares of Grab by 100.0% in the fourth quarter. Achmea Investment Management B.V. now owns 11,176 shares of the company’s stock valued at $34,000 after buying an additional 5,588 shares in the last quarter. 52.50% 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.