Grab (NASDAQ:GRAB) Shares Gap Up - Here's What Happened

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.90, but opened at $5.30. Grab shares last traded at $5.34, with a volume of 43,472,530 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GRAB. China Renaissance downgraded shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price objective for the company in a research report on Friday. Mizuho upped their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $5.62.

Grab Stock Performance

The company 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 debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm's 50 day moving average is $4.76 and its 200-day moving average is $4.28.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. 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 3.57% and a negative return on equity of 1.50%. The company had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. On average, research analysts anticipate that Grab Holdings Limited will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Grab

Several large investors have recently bought and sold shares of the business. Twin Tree Management LP purchased a new stake in shares of Grab in the 4th quarter valued at approximately $25,000. Global Retirement Partners LLC purchased a new stake in shares of Grab in the 4th quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Grab in the 4th quarter valued at approximately $30,000. Blue Trust Inc. grew its stake in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock valued at $35,000 after buying an additional 3,408 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in shares of Grab by 7,238.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after buying an additional 7,890 shares during the period. Hedge funds and other institutional investors 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.