Grab (NASDAQ:GRAB) Shares Gap Down - What's Next?

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $5.34, but opened at $5.08. Grab shares last traded at $4.89, with a volume of 27,775,310 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. China Renaissance cut Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective on the stock. in a research report on Thursday, November 21st. Barclays lifted their price target on shares of Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday. Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, HSBC upgraded Grab from a "hold" rating to a "buy" rating and cut their price target for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.62.

Grab Stock Performance

The firm's 50 day simple moving average is $4.76 and its 200 day simple moving average is $4.28. The firm has a market cap of $19.73 billion, a PE ratio of -245.00, a PEG ratio of 2.23 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting 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 company had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. On average, research analysts forecast that Grab Holdings Limited will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRAB. Mackenzie Financial Corp increased its position in Grab by 41.1% in the fourth quarter. Mackenzie Financial Corp now owns 202,263 shares of the company's stock worth $955,000 after purchasing an additional 58,934 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Grab by 2,646.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,028,596 shares of the company's stock worth $23,735,000 after buying an additional 4,845,496 shares during the last quarter. JT Stratford LLC purchased a new stake in shares of Grab during the 4th quarter valued at about $286,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Grab by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,582,517 shares of the company's stock valued at $68,829,000 after acquiring an additional 2,120,034 shares during the last quarter. Finally, USS Investment Management Ltd purchased a new position in Grab in the fourth quarter worth about $3,109,000. 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.