Grab (NASDAQ:GRAB) Upgraded to Neutral at Bank of America

Bank of America upgraded shares of Grab (NASDAQ:GRAB) from an underperform rating to a neutral rating in a research note published on Tuesday, MarketBeat reports. They currently have $5.10 price target on the stock, up from their prior price target of $4.90.

GRAB has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. HSBC lowered Grab from a “buy” rating to a “hold” rating and increased their price target for the stock from $4.25 to $5.50 in a research note on Thursday, December 5th. Mizuho boosted their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. Finally, Hsbc Global Res downgraded shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.55.

Grab Stock Down 2.7 %

Shares of NASDAQ:GRAB opened at $4.74 on Tuesday. The firm’s 50-day simple moving average is $4.90 and its 200-day simple moving average is $4.00. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The company has a market cap of $19.09 billion, a price-to-earnings ratio of -237.00 and a beta of 0.90. 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) 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 analysts’ expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the prior year, the firm posted ($0.02) EPS. As a group, equities research analysts predict that Grab will post -0.03 earnings per share for the current year.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently made changes to their positions in GRAB. Blue Trust Inc. boosted its stake in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares during the last quarter. Traynor Capital Management Inc. bought a new position in shares of Grab during the third quarter worth about $41,000. Glenmede Trust Co. NA acquired a new position in Grab in the third quarter worth about $53,000. Dorsey & Whitney Trust CO LLC increased its holdings in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in Grab during the second quarter valued at approximately $65,000. 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.