Barclays Boosts Grab (NASDAQ:GRAB) Price Target to $5.50

Grab (NASDAQ:GRAB) had its price target boosted by research analysts at Barclays from $4.70 to $5.50 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 12.47% from the stock’s previous close.

Several other research firms also recently commented on GRAB. Jefferies Financial Group lowered their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday. Finally, Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $5.48.

Grab Price Performance

Grab stock remained flat at $4.89 during mid-day trading on Wednesday. 37,264,555 shares of the company’s stock traded hands, compared to its average volume of 24,327,527. The firm has a market capitalization of $19.18 billion, a PE ratio of -243.50 and a beta of 0.81. Grab has a 12-month low of $2.90 and a 12-month high of $4.93. The firm’s fifty day simple moving average is $3.81 and its two-hundred day simple moving average is $3.59. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. Equities analysts expect that Grab will post -0.04 earnings per share for the current year.

Institutional Trading of Grab

Several hedge funds have recently added to or reduced their stakes in GRAB. Dai ichi Life Insurance Company Ltd raised its stake in shares of Grab by 13.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company’s stock valued at $470,000 after purchasing an additional 15,000 shares during the period. Citigroup Inc. boosted its position in Grab by 83.6% during the third quarter. Citigroup Inc. now owns 14,277,673 shares of the company’s stock valued at $54,255,000 after purchasing an additional 6,503,051 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Grab by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock valued at $5,434,000 after purchasing an additional 48,596 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in shares of Grab during the 3rd quarter worth approximately $1,986,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Grab in the third quarter valued at $2,757,000. Institutional investors and hedge funds 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.