Grab (NASDAQ:GRAB) Rating Increased to Neutral at Bank of America

Grab (NASDAQ:GRAB) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report released on Tuesday,Finviz reports. The brokerage presently has a $5.10 price target on the stock, up from their previous price target of $4.90. Bank of America‘s target price would indicate a potential upside of 4.72% from the company’s previous close.

Other analysts have also issued reports about the company. Barclays raised their target price on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. HSBC lowered Grab from a “buy” rating to a “hold” rating and raised their target price for the stock from $4.25 to $5.50 in a report on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. Finally, Daiwa Capital Markets initiated coverage on Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.55.

Grab Stock Up 1.2 %

Shares of GRAB stock opened at $4.87 on Tuesday. The stock’s 50-day simple moving average is $4.89 and its 200-day simple moving average is $3.99. 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 firm has a market capitalization of $19.61 billion, a PE ratio of -243.50 and a beta of 0.90. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data 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 prior year, the company earned ($0.02) earnings per share. Equities analysts expect that Grab will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of Grab by 18.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after purchasing an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Grab in the third quarter valued at approximately $22,434,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Grab in the third quarter valued at approximately $2,757,000. Finally, Caz Investments LP increased its holdings in shares of Grab by 100.0% in the third quarter. Caz Investments LP now owns 3,700,232 shares of the company’s stock valued at $13,598,000 after purchasing an additional 1,850,116 shares during the last quarter. Hedge funds and other institutional investors 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.