HSBC Upgrades Grab (NASDAQ:GRAB) to Buy

Grab (NASDAQ:GRAB) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $5.45 target price on the stock, down from their previous target price of $5.50. HSBC’s target price would suggest a potential upside of 19.52% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Mizuho raised their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI raised their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Barclays raised their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Daiwa Capital Markets began coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Stock Down 10.8 %

Shares of GRAB opened at $4.56 on Tuesday. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of -228.00, a P/E/G ratio of 1.91 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. The company has a 50-day moving average price of $4.84 and a two-hundred day moving average price of $4.15.

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

Institutional Trading of Grab

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Grab by 13.4% in the third 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 last quarter. Baillie Gifford & Co. boosted its stake in Grab by 10.0% in the fourth 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 last quarter. Perpetual Ltd bought a new position in Grab in the fourth quarter valued at approximately $213,177,000. State Street Corp boosted its stake in Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after acquiring an additional 967,233 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its stake in Grab by 11.4% in the third quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock valued at $128,196,000 after acquiring an additional 3,442,581 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

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.