Grab (NASDAQ:GRAB) Price Target Raised to $6.50

Grab (NASDAQ:GRAB) had its price objective upped by Barclays from $5.50 to $6.50 in a research report released on Thursday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. 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 target for the company. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Mizuho boosted their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Trading Up 2.5 %

NASDAQ GRAB opened at $4.90 on Thursday. The firm has a 50 day simple moving average of $4.76 and a 200-day simple moving average of $4.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab has a one year low of $2.98 and a one year high of $5.72. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of -245.00, a PEG ratio of 2.26 and a beta of 0.90.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting 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 company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Equities research analysts anticipate that Grab will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. Uber Technologies Inc acquired a new position in shares of Grab in the 4th quarter valued at $2,529,462,000. Toyota Motor Corp acquired a new position in Grab in the 4th quarter valued at $1,052,117,000. Hanwha Asset Management Co. Ltd. acquired a new position in Grab in the 4th quarter valued at $227,718,000. Perpetual Ltd acquired a new position in Grab in the 4th quarter valued at $213,177,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Grab by 5,066.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock valued at $160,075,000 after buying an additional 33,257,610 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

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.