Grab (NASDAQ:GRAB) Trading 6.6% Higher on Analyst Upgrade

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) traded up 6.6% during trading on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $5.60 price target on the stock. Grab traded as high as $5.29 and last traded at $5.11. 14,942,758 shares traded hands during trading, a decline of 57% from the average session volume of 35,035,766 shares. The stock had previously closed at $4.79.

GRAB has been the topic of several other reports. Benchmark reiterated a "buy" rating and set a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Evercore ISI lifted their target price on Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Finally, HSBC raised 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 note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $5.62.

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Institutional Investors Weigh In On Grab

Several large investors have recently added to or reduced their stakes in the business. Twin Tree Management LP bought a new position in shares of Grab during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in shares of Grab during the 4th quarter valued at $30,000. Campbell Capital Management Inc. bought a new position in Grab during the fourth quarter worth $30,000. Blue Trust Inc. grew its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock worth $35,000 after purchasing an additional 3,408 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Grab by 7,238.5% in the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after purchasing an additional 7,890 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Stock Down 5.4 %

The stock has a market cap of $18.36 billion, a price-to-earnings ratio of -228.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The firm's fifty day moving average price is $4.76 and its two-hundred day moving average price is $4.31. 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 (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 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 the consensus estimate of $762.57 million. Sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.