Grab (NASDAQ:GRAB) Downgraded by Hsbc Global Res to Hold

Grab (NASDAQ:GRAB - Get Free Report) was downgraded by Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. China Renaissance lowered Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective for the company. in a research note on Thursday, November 21st. JPMorgan Chase & Co. upped their price objective on Grab from $5.00 to $5.70 and gave the stock an "overweight" rating in a research note on Tuesday, November 12th. Evercore ISI increased their price objective on shares of Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. HSBC cut Grab from a "buy" rating to a "hold" rating and raised their price objective for the stock from $4.25 to $5.50 in a research note on Thursday. Finally, Mizuho boosted their price target on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.53.

Grab Price Performance

Shares of GRAB traded down $0.10 during midday trading on Thursday, hitting $5.14. 26,300,734 shares of the company traded hands, compared to its average volume of 26,014,490. 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 has a one year low of $2.90 and a one year high of $5.72. The firm has a market cap of $20.70 billion, a P/E ratio of -260.00 and a beta of 0.90. The stock has a 50-day moving average of $4.37 and a 200-day moving average of $3.78.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same period in the prior year, the firm posted ($0.02) EPS. As a group, sell-side analysts predict that Grab will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of hedge funds have recently added to or reduced their stakes in GRAB. Blue Trust Inc. raised its stake in shares of 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 buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC acquired a new position in shares of Grab during the second quarter worth $38,000. Traynor Capital Management Inc. bought a new position in Grab during the 3rd quarter worth $41,000. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company's stock worth $50,000 after buying an additional 3,795 shares in the last quarter. Finally, Prospect Financial Services LLC bought a new position in shares of Grab in the second quarter valued at $53,000. 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.