Grab (NASDAQ:GRAB) Price Target Raised to $8.00

Grab (NASDAQ:GRAB) had its price target increased by Evercore ISI from $7.00 to $8.00 in a research report sent to investors on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on the company. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday. Daiwa Capital Markets assumed coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Finally, Jefferies Financial Group lowered their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab presently has a consensus rating of “Buy” and a consensus target price of $5.48.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.73 on Tuesday. The company has a quick ratio of 2.97, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The firm has a market cap of $18.56 billion, a P/E ratio of -236.50 and a beta of 0.81. Grab has a 12 month low of $2.90 and a 12 month high of $4.93. The company’s 50-day moving average price is $3.90 and its two-hundred day moving average price is $3.61.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million for 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 period in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts forecast that Grab will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after acquiring an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Grab during the first quarter worth about $32,000. Traynor Capital Management Inc. acquired a new stake in shares of Grab during the third quarter worth about $41,000. Sage Rhino Capital LLC bought a new position in shares of Grab during the 2nd quarter valued at about $38,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of Grab in the 3rd quarter valued at approximately $53,000. 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.