Grab (NASDAQ:GRAB) Stock Price Expected to Rise, Barclays Analyst Says

Grab (NASDAQ:GRAB - Free Report) had its target price raised by Barclays from $5.50 to $6.50 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

GRAB has been the subject of a number of other reports. China Renaissance downgraded Grab from a "buy" rating to a "hold" rating and set a $5.40 target price for the company. in a research report on Thursday, November 21st. Daiwa Capital Markets began coverage on Grab in a research report on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 target price for the company. JPMorgan Chase & Co. downgraded Grab from an "overweight" rating to a "neutral" rating in a research report on Wednesday, February 5th. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Finally, Mizuho upped their target price on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Grab has an average rating of "Moderate Buy" and an average target price of $5.62.

Grab Stock Performance

NASDAQ GRAB traded up $0.12 on Thursday, reaching $4.90. The stock had a trading volume of 56,373,621 shares, compared to its average volume of 36,315,199. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm has a fifty day moving average of $4.76 and a two-hundred day moving average of $4.28. Grab has a 1-year low of $2.98 and a 1-year high of $5.72. The company has a market cap of $19.73 billion, a P/E ratio of -245.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. On average, equities research analysts anticipate that Grab will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Grab

Several large investors have recently bought and sold shares of the company. Ellevest Inc. raised its position in Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company's stock valued at $391,000 after purchasing an additional 2,636 shares during the last quarter. Empowered Funds LLC raised its position in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock valued at $166,000 after purchasing an additional 3,147 shares during the last quarter. Blue Trust Inc. raised its position in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock valued at $35,000 after purchasing an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC raised its position in Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company's stock valued at $135,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Wedbush Securities Inc. raised its position in Grab by 19.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock valued at $103,000 after purchasing an additional 3,500 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

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.