JPMorgan Chase & Co. Cuts Grab (NASDAQ:GRAB) Price Target to $5.30

Grab (NASDAQ:GRAB) had its price target reduced by JPMorgan Chase & Co. from $5.60 to $5.30 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts also recently issued reports on the company. CLSA upgraded Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. Barclays upped their target price on shares of Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Citigroup reissued a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Finally, Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.60.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.12 on Wednesday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $16.57 billion, a PE ratio of -205.75, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The firm’s 50 day moving average price is $4.49 and its 200-day moving average price is $4.56. Grab has a twelve month low of $2.98 and a twelve month high of $5.72.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRAB. HighTower Advisors LLC raised its stake in Grab by 87.9% during the third quarter. HighTower Advisors LLC now owns 31,546 shares of the company’s stock valued at $119,000 after purchasing an additional 14,759 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Grab in the 3rd quarter valued at about $696,000. Geode Capital Management LLC grew its position in Grab by 2.9% in the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock worth $77,414,000 after acquiring an additional 591,898 shares in the last quarter. Tidal Investments LLC increased its stake in Grab by 4,311.8% during the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Grab by 15.4% during the fourth quarter. Nordea Investment Management AB now owns 17,181,844 shares of the company’s stock valued at $81,356,000 after purchasing an additional 2,297,932 shares during the period. 55.52% of the stock is currently owned by institutional investors.

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.