Grab (NASDAQ:GRAB) Shares Gap Up – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.45, but opened at $4.64. Grab shares last traded at $4.56, with a volume of 6,165,111 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note 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. HSBC upgraded Grab from a “hold” rating to a “buy” rating and reduced their target price for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Barclays upped their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Stock Up 2.4 %

The business has a 50-day moving average of $4.66 and a 200-day moving average of $4.46. 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 stock has a market capitalization of $18.97 billion, a price-to-earnings ratio of -235.50, a P/E/G ratio of 2.26 and a beta of 0.88.

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

Institutional Investors Weigh In On Grab

A number of institutional investors have recently modified their holdings of the company. 111 Capital acquired a new position in Grab during the 4th quarter worth about $7,165,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Grab during the fourth quarter worth about $6,829,000. Wealthedge Investment Advisors LLC purchased a new position in shares of Grab in the fourth quarter valued at approximately $68,000. Employees Retirement System of Texas acquired a new position in shares of Grab in the fourth quarter valued at approximately $190,000. Finally, Heck Capital Advisors LLC purchased a new stake in Grab during the 4th quarter worth approximately $321,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Company Profile

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.