Grab (NASDAQ:GRAB) Raised to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Grab (NASDAQ:GRAB - Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $5.60 price target on the stock.

A number of other research analysts also recently issued reports on GRAB. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Barclays upped their price target 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 upgraded shares of Grab from a "hold" rating to a "buy" rating and decreased their price objective for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Finally, Mizuho raised their price target on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Two research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $5.62.

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Grab Stock Performance

GRAB traded down $0.26 during trading on Friday, hitting $4.56. The company's stock had a trading volume of 38,578,638 shares, compared to its average volume of 36,429,918. The business's 50 day simple moving average is $4.76 and its 200-day simple moving average is $4.31. The firm has a market cap of $18.36 billion, a PE ratio of -228.00, a P/E/G ratio of 2.26 and a beta of 0.90. Grab has a one year low of $2.98 and a one year high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS 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 company had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. As a group, sell-side analysts predict that Grab will post 0.05 EPS for the current fiscal year.

Institutional Trading of Grab

Several hedge funds have recently modified their holdings of GRAB. Uber Technologies Inc purchased a new stake in Grab during the fourth quarter valued at $2,529,462,000. Toyota Motor Corp purchased a new stake in shares of Grab during the 4th quarter valued at about $1,052,117,000. Wellington Management Group LLP lifted its holdings in shares of Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock valued at $472,394,000 after acquiring an additional 14,671,388 shares during the last quarter. Hanwha Asset Management Co. Ltd. purchased a new position in Grab in the fourth quarter worth about $227,718,000. Finally, Baillie Gifford & Co. increased its stake in Grab by 10.0% during the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock worth $221,942,000 after acquiring an additional 4,259,537 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.