Grab (NASDAQ:GRAB) Trading 6.6% Higher After Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB) shares traded up 6.6% during mid-day trading on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $5.60 price target on the stock. Grab traded as high as $5.29 and last traded at $5.11. 14,942,758 shares were traded during mid-day trading, a decline of 57% from the average session volume of 35,035,766 shares. The stock had previously closed at $4.79.

A number of other equities analysts have also recently issued reports on the company. Mizuho increased their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their price target on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. Benchmark restated a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Thursday. Finally, Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their price target for the stock 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in 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 shares of Grab in the 4th quarter valued at $1,052,117,000. Hanwha Asset Management Co. Ltd. acquired a new position in shares of Grab in the 4th quarter valued at $227,718,000. Perpetual Ltd acquired a new stake in Grab during the 4th quarter worth $213,177,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Grab by 5,066.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock worth $160,075,000 after buying an additional 33,257,610 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

The firm has a market cap of $19.73 billion, a price-to-earnings ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $4.76 and a 200 day moving average of $4.29.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Equities research analysts predict that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

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.