Grab Holdings Limited (NASDAQ:GRAB) Receives $5.53 Average PT from Brokerages

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $5.53.

Several analysts have issued reports on the stock. 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. Evercore ISI increased their target price on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Mizuho lifted their price target on Grab from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on Grab from $5.00 to $5.70 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. Finally, HSBC downgraded shares of Grab from a "buy" rating to a "hold" rating and lifted their target price for the stock from $4.25 to $5.50 in a research note on Thursday, December 5th.

Grab Price Performance

Shares of Grab stock traded up $0.10 during trading on Tuesday, hitting $5.43. 65,776,348 shares of the stock traded hands, compared to its average volume of 26,227,688. The firm's fifty day moving average is $4.42 and its 200-day moving average is $3.80. The stock has a market cap of $21.87 billion, a price-to-earnings ratio of -271.50 and a beta of 0.90. Grab has a 52 week low of $2.90 and a 52 week high of $5.72. 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 (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same period last year, the firm posted ($0.02) earnings per share. Research analysts expect that Grab will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. purchased a new stake in Grab in the second quarter worth about $166,587,000. Point72 Asset Management L.P. purchased a new position in shares of Grab in the 2nd quarter valued at approximately $57,696,000. Wellington Management Group LLP boosted its position in shares of Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock valued at $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Coronation Fund Managers Ltd. grew its stake in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock worth $161,357,000 after purchasing an additional 10,410,574 shares during the period. Finally, Tree Line Advisors Hong Kong Ltd. bought a new position in Grab in the third quarter worth $38,000,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.