Grab (NASDAQ:GRAB) Price Target Raised to $5.50

Grab (NASDAQ:GRAB) had its price objective boosted by Barclays from $4.70 to $5.50 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on GRAB. Evercore ISI lifted their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group reduced their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday. Finally, Mizuho lifted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab presently has a consensus rating of “Buy” and an average target price of $5.48.

Grab Price Performance

GRAB opened at $4.73 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. Grab has a 1-year low of $2.90 and a 1-year high of $4.93. The company has a market capitalization of $18.56 billion, a PE ratio of -236.50 and a beta of 0.81. The firm’s 50 day simple moving average is $3.90 and its two-hundred day simple moving average is $3.61.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period last year, the firm earned ($0.02) earnings per share. As a group, equities analysts forecast that Grab will post -0.03 EPS for the current year.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Sequoia Financial Advisors LLC raised its holdings in shares of Grab by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Grab by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after purchasing an additional 3,941 shares in the last quarter. Institutional investors 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.