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

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $4.03, but opened at $4.15. Grab shares last traded at $4.20, with a volume of 14,373,309 shares.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GRAB shares. Benchmark reissued a "buy" rating and set a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Jefferies Financial Group dropped their price objective on shares of Grab from $5.00 to $4.70 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Finally, Mizuho began coverage on shares of Grab in a report on Thursday, June 27th. They set an "outperform" rating and a $5.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $4.71.

Grab Price Performance

The company's 50 day moving average price is $3.50 and its 200 day moving average price is $3.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The company has a market cap of $16.32 billion, a price-to-earnings ratio of -59.57 and a beta of 0.83.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. On average, equities research analysts predict that Grab Holdings Limited will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of large investors have recently bought and sold shares of GRAB. Allspring Global Investments Holdings LLC raised its position in Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock valued at $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Grab by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company's stock valued at $25,774,000 after buying an additional 126,365 shares during the last quarter. Quadrature Capital Ltd lifted its position in Grab by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company's stock worth $3,348,000 after buying an additional 590,580 shares in the last quarter. Toronto Dominion Bank grew its holdings in Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company's stock worth $18,238,000 after acquiring an additional 1,555,579 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company's stock valued at $3,135,000 after acquiring an additional 133,531 shares in the last quarter. 55.52% of the stock is currently owned by 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.