Grab (NASDAQ:GRAB) Upgraded by Bank of America to "Neutral" Rating

Bank of America upgraded shares of Grab (NASDAQ:GRAB - Free Report) from an underperform rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has $5.10 price target on the stock, up from their prior price target of $4.90.

A number of other equities research analysts have also recently issued reports on the company. Hsbc Global Res cut Grab from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. China Renaissance downgraded shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 target price on the stock. in a report on Thursday, November 21st. Mizuho upped their price target on shares of Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted 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. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $5.55.

Grab Stock Down 2.7 %

NASDAQ:GRAB traded down $0.13 during mid-day trading on Tuesday, reaching $4.74. The stock had a trading volume of 23,000,634 shares, compared to its average volume of 19,447,125. The stock has a market cap of $19.09 billion, a P/E ratio of -237.00 and a beta of 0.90. The business's 50 day moving average is $4.90 and its 200 day moving average is $4.00. 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 fifty-two week low of $2.90 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate 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 quarter last year, the firm earned ($0.02) EPS. As a group, sell-side analysts predict that Grab will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Grab

A number of institutional investors have recently bought and sold shares of GRAB. Nordea Investment Management AB grew its stake in shares of Grab by 15.4% in the 4th quarter. Nordea Investment Management AB now owns 17,181,844 shares of the company's stock valued at $81,356,000 after purchasing an additional 2,297,932 shares during the period. Tidal Investments LLC lifted its position in shares of Grab by 4,311.8% during the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock worth $1,691,000 after buying an additional 435,014 shares during the period. Toronto Dominion Bank boosted its stake in Grab by 20.2% in the 3rd quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company's stock valued at $23,457,000 after buying an additional 1,035,269 shares in the last quarter. Geode Capital Management LLC grew its position in Grab by 2.9% in the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company's stock valued at $77,414,000 after acquiring an additional 591,898 shares during the period. Finally, M&T Bank Corp raised its stake in Grab by 1.7% during the third quarter. M&T Bank Corp now owns 335,179 shares of the company's stock worth $1,274,000 after acquiring an additional 5,545 shares in the last quarter. 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.