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

Grab (NASDAQ:GRAB - Get Free Report) had its price objective hoisted by research analysts at Evercore ISI from $7.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Evercore ISI's target price would indicate a potential upside of 63.60% from the stock's previous close.

Several other research firms have also recently weighed in on GRAB. Jefferies Financial Group dropped their price target on Grab from $5.00 to $4.70 and set a "buy" rating for the company in a report on Wednesday, July 17th. Daiwa Capital Markets initiated coverage on shares of Grab in a research report on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 price target for the company. Finally, Benchmark restated a "buy" rating and set a $6.00 price objective on shares of Grab in a research note on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $5.28.

Grab Price Performance

NASDAQ GRAB traded up $0.51 on Tuesday, hitting $4.89. 148,522,912 shares of the company were exchanged, compared to its average volume of 24,245,191. The firm has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.58. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $19.18 billion, a P/E ratio of -96.00 and a beta of 0.81. Grab has a 1-year low of $2.90 and a 1-year high of $4.93.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. During the same period last year, the business posted ($0.03) EPS. Grab's revenue was up 17.1% on a year-over-year basis. On average, equities analysts predict that Grab will post -0.04 EPS for the current year.

Institutional Investors Weigh In On Grab

Institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. grew its stake in shares of Grab by 83.6% in the 3rd quarter. Citigroup Inc. now owns 14,277,673 shares of the company's stock valued at $54,255,000 after buying an additional 6,503,051 shares during the period. Charles Schwab Investment Management Inc. grew its position in Grab by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company's stock valued at $5,434,000 after purchasing an additional 48,596 shares during the period. Thompson Siegel & Walmsley LLC acquired a new position in Grab during the third quarter worth $1,986,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Grab during the third quarter worth $2,757,000. Finally, Swiss National Bank lifted its position in shares of Grab by 0.9% during the 3rd quarter. Swiss National Bank now owns 6,274,800 shares of the company's stock worth $23,844,000 after buying an additional 55,100 shares in the last quarter. 55.52% of the stock is owned by 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.