Grab (NASDAQ:GRAB) Shares Gap Up – Time to Buy?

Grab Holdings Limited (NASDAQ:GRAB) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.45, but opened at $4.64. Grab shares last traded at $4.56, with a volume of 6,165,111 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on GRAB shares. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and decreased their target price for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. Barclays raised their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Stock Performance

The company has a market cap of $18.22 billion, a P/E ratio of -226.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average price is $4.66 and its 200 day moving average price is $4.44.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. grew its stake in shares of Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after acquiring an additional 4,259,537 shares during the last quarter. Tidal Investments LLC grew its stake 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 worth $1,691,000 after acquiring 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 worth $22,434,000. Leibman Financial Services Inc. acquired a new stake in shares of Grab in the fourth quarter worth $937,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Grab by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock worth $22,220,000 after buying an additional 134,243 shares in the last quarter. 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.