Grab (NASDAQ:GRAB) Shares Gap Up - Still a Buy?

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $3.48, but opened at $3.79. Grab shares last traded at $3.87, with a volume of 8,866,967 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on GRAB shares. Bank of America raised shares of Grab from an "underperform" rating to a "neutral" rating and raised their target price for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price target on the stock in a report on Friday, February 21st. Citigroup restated a "buy" rating on shares of Grab in a research note on Tuesday, February 4th. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, HSBC raised shares of Grab from a "hold" rating to a "buy" rating and decreased their price target for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and an average price target of $5.62.

Grab Stock Up 2.0 %

The stock has a market capitalization of $16.31 billion, a PE ratio of -202.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. 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 business's fifty day moving average price is $4.56 and its two-hundred day moving average price is $4.56.

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

Institutional Trading of Grab

Several institutional investors and hedge funds have recently bought and sold shares of GRAB. HighTower Advisors LLC lifted its position in Grab by 87.9% during the third quarter. HighTower Advisors LLC now owns 31,546 shares of the company's stock valued at $119,000 after purchasing an additional 14,759 shares during the period. State Street Corp boosted its stake in shares of Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company's stock worth $165,567,000 after buying an additional 967,233 shares during the last quarter. XTX Topco Ltd boosted its stake in shares of Grab by 265.5% in the third quarter. XTX Topco Ltd now owns 112,274 shares of the company's stock worth $427,000 after buying an additional 81,558 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Grab by 1.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 583,500 shares of the company's stock worth $2,217,000 after acquiring an additional 9,600 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Grab during the third quarter valued at approximately $696,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.