Grab (NASDAQ:GRAB) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Grab (NASDAQ:GRAB – Get Rating) from a sell rating to a hold rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Grab Holdings Limited offer superapp in each of food deliveries, mobility and the e-wallets segment of financial services. It operates principally in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab Holdings Limited, formerly known as Altimeter Growth Corp., is based in MENLO PARK, Calif. “

Several other equities analysts also recently issued reports on the company. DBS Vickers downgraded Grab from a buy rating to a hold rating and set a $5.60 price objective for the company. in a research report on Thursday, February 24th. Morgan Stanley assumed coverage on Grab in a research report on Monday, January 24th. They issued an overweight rating and a $8.40 target price for the company. The Goldman Sachs Group assumed coverage on Grab in a research report on Thursday, January 27th. They issued a buy rating and a $7.90 target price for the company. CLSA started coverage on Grab in a research report on Monday, February 21st. They issued a sell rating and a $4.76 target price for the company. Finally, JPMorgan Chase & Co. cut Grab from an overweight rating to a neutral rating and dropped their price target for the company from $12.50 to $5.70 in a report on Thursday, February 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $7.21.

GRAB stock traded down $0.13 during midday trading on Thursday, reaching $2.90. The company had a trading volume of 93,965 shares, compared to its average volume of 13,337,858. The company has a quick ratio of 8.45, a current ratio of 8.46 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average price is $3.47. Grab has a fifty-two week low of $2.63 and a fifty-two week high of $13.29.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Grab in the fourth quarter worth about $64,000. Tuttle Capital Management LLC acquired a new position in Grab in the first quarter worth about $66,000. Marathon Trading Investment Management LLC acquired a new position in Grab in the fourth quarter worth about $71,000. Stephens Inc. AR acquired a new position in Grab in the fourth quarter worth about $81,000. Finally, Galvin Gaustad & Stein LLC acquired a new position in Grab in the fourth quarter worth about $82,000. 46.25% of the stock is owned by institutional investors and hedge funds.

About Grab (Get Rating)

Grab Holdings Limited operates a transportation and fintech platform in Southeast Asia. It offers a range of services, including mobility, food, package and grocery delivery services, mobile payments, and financial services. The company was founded in 2012 and is based in Singapore.

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