Grab (NASDAQ:GRAB) Trading Down 1.7%

Grab Holdings Limited (NASDAQ:GRABGet Free Report)’s share price dropped 1.7% during trading on Wednesday . The stock traded as low as $3.51 and last traded at $3.53. Approximately 29,781,149 shares traded hands during trading, an increase of 49% from the average daily volume of 20,038,304 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

GRAB has been the subject of several recent research reports. Barclays upped their target price on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a research report on Friday, May 17th. They set a “buy” rating and a $4.50 target price for the company. HSBC reissued a “buy” rating and issued a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Thursday, May 16th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $5.07.

Check Out Our Latest Report on Grab

Grab Stock Performance

The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of -50.42 and a beta of 0.82. The company has a current ratio of 3.26, a quick ratio of 3.22 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $3.55 and its two-hundred day moving average is $3.33.

Grab (NASDAQ:GRABGet Free Report) last announced its earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $653.00 million during the quarter, compared to analyst estimates of $662.48 million. Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. Analysts expect that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in shares of Grab during the 3rd quarter worth about $41,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Grab by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,159,898 shares of the company’s stock worth $4,106,000 after buying an additional 83,740 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Grab by 1.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 301,543 shares of the company’s stock worth $1,067,000 after buying an additional 5,003 shares during the last quarter. Deutsche Bank AG raised its holdings in Grab by 2.4% in the 3rd quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock valued at $10,495,000 after acquiring an additional 69,792 shares during the period. Finally, Rhumbline Advisers raised its holdings in Grab by 23.7% in the 3rd quarter. Rhumbline Advisers now owns 685,978 shares of the company’s stock valued at $2,428,000 after acquiring an additional 131,513 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

About Grab

(Get Free Report)

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.

Further Reading

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