Grab (NASDAQ:GRAB) Trading 3.9% Higher - Here's Why

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report)'s stock price rose 3.9% during mid-day trading on Wednesday . The company traded as high as $4.76 and last traded at $4.72. Approximately 13,947,219 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 28,076,227 shares. The stock had previously closed at $4.54.

Analysts Set New Price Targets

A number of research firms have recently commented on GRAB. HSBC raised Grab from a "hold" rating to a "buy" rating and dropped their price target for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price objective on the stock in a report on Friday, February 21st. Finally, Benchmark reaffirmed a "buy" rating and issued a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.62.

Grab Price Performance

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 company has a fifty day moving average price of $4.68 and a two-hundred day moving average price of $4.52. The company has a market cap of $18.40 billion, a P/E ratio of -228.50, a PEG ratio of 2.26 and a beta of 0.88.

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

Institutional Trading of Grab

A number of large investors have recently added to or reduced their stakes in GRAB. Twin Tree Management LP bought a new stake in shares of Grab in the 4th quarter valued at about $25,000. Global Retirement Partners LLC acquired a new position in Grab during the fourth quarter worth approximately $30,000. Campbell Capital Management Inc. bought a new stake in Grab in the fourth quarter valued at approximately $30,000. TD Private Client Wealth LLC lifted its position in shares of 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 buying an additional 7,890 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Grab during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 55.52% of the company's stock.

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.