Grab (NASDAQ:GRAB) Upgraded to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Grab (NASDAQ:GRAB) from a neutral rating to an overweight rating in a research report sent to investors on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $5.60 price target on the stock.

Several other brokerages also recently commented on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Thursday. Mizuho upped their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and reduced their price objective for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Barclays raised their target price on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI increased their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Up 2.5 %

Shares of NASDAQ GRAB opened at $4.90 on Friday. The business has a 50-day moving average of $4.76 and a two-hundred day moving average of $4.28. The company has a market capitalization of $19.73 billion, a price-to-earnings ratio of -245.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90. Grab has a 1 year low of $2.98 and a 1 year high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. On average, analysts forecast that Grab will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently modified their holdings of the business. Uber Technologies Inc bought a new stake in shares of Grab in the 4th quarter valued at about $2,529,462,000. Toyota Motor Corp purchased a new position in Grab in the fourth quarter worth about $1,052,117,000. Wellington Management Group LLP raised its stake in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. Hanwha Asset Management Co. Ltd. purchased a new stake in Grab in the fourth quarter worth approximately $227,718,000. Finally, Baillie Gifford & Co. boosted its position in 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 purchasing an additional 4,259,537 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.