Grab (NASDAQ:GRAB) Stock Price Expected to Rise, Mizuho Analyst Says

Grab (NASDAQ:GRAB) had its price objective boosted by Mizuho from $5.00 to $6.00 in a report issued on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research firms also recently weighed in on GRAB. JPMorgan Chase & Co. raised their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday. Jefferies Financial Group reduced their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Tuesday. Daiwa Capital Markets began coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Finally, Evercore ISI raised their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $5.48.

Grab Price Performance

GRAB stock opened at $4.73 on Wednesday. Grab has a twelve month low of $2.90 and a twelve month high of $4.93. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $18.56 billion, a P/E ratio of -236.50 and a beta of 0.81. The firm has a 50 day simple moving average of $3.90 and a 200-day simple moving average of $3.61.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter last year, the company earned ($0.02) earnings per share. On average, equities research analysts predict that Grab will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in Grab by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after purchasing an additional 3,020 shares during the last quarter. Empowered Funds LLC increased its position in shares of Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares during the period. Blue Trust Inc. increased its position in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the period. Finally, Asset Management One Co. Ltd. grew its position in Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after acquiring an additional 3,941 shares during the period. 55.52% of the stock is currently 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.