Barclays Forecasts Strong Price Appreciation for Grab (NASDAQ:GRAB) Stock

Grab (NASDAQ:GRAB) had its price objective boosted by equities researchers at Barclays from $4.70 to $5.50 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 16.28% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Evercore ISI upped their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho lifted their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday. Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Finally, Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Tuesday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $5.48.

Grab Trading Down 3.3 %

NASDAQ GRAB opened at $4.73 on Wednesday. The firm has a market capitalization of $18.56 billion, a PE ratio of -236.50 and a beta of 0.81. Grab has a one year low of $2.90 and a one year high of $4.93. The company has a 50-day simple moving average of $3.87 and a 200-day simple moving average of $3.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same period in the prior year, the company earned ($0.02) earnings per share. On average, equities analysts forecast that Grab will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC bought a new position in shares of Grab in the first quarter valued at $111,000. Sei Investments Co. boosted its position in shares of Grab by 107.2% in the 1st quarter. Sei Investments Co. now owns 5,013,111 shares of the company’s stock valued at $15,741,000 after purchasing an additional 2,593,616 shares during the period. Russell Investments Group Ltd. increased its stake in Grab by 6.4% in the 1st quarter. Russell Investments Group Ltd. now owns 3,393,371 shares of the company’s stock worth $10,655,000 after purchasing an additional 205,128 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Grab during the 1st quarter worth about $32,000. Finally, Vanguard Group Inc. lifted its stake in Grab by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,505,636 shares of the company’s stock valued at $23,568,000 after buying an additional 166,063 shares in the last quarter. Institutional investors and hedge funds 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.