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

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $4.45, but opened at $4.64. Grab shares last traded at $4.56, with a volume of 6,165,111 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 target price on the stock in a research report on Friday, February 21st. Barclays raised their price objective on shares of Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. HSBC raised shares of Grab from a "hold" rating to a "buy" rating and reduced their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Bank of America raised Grab from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Finally, Hsbc Global Res raised 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, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.62.

Grab Price Performance

The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $4.66 and a two-hundred day moving average of $4.47. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of -232.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

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Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. On average, equities research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently modified their holdings of GRAB. Twin Tree Management LP purchased a new stake in Grab during the fourth quarter worth $25,000. Global Retirement Partners LLC purchased a new stake in shares of Grab in the 4th quarter worth about $30,000. Campbell Capital Management Inc. acquired a new stake in Grab in the 4th quarter valued at about $30,000. TD Private Client Wealth LLC raised its position in Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock worth $38,000 after acquiring an additional 7,890 shares during the last quarter. Finally, Allianz SE purchased a new stake in shares of Grab in the fourth quarter valued at about $44,000. 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.