Grab (NASDAQ:GRAB) Cut to Hold at China Renaissance

China Renaissance lowered shares of Grab (NASDAQ:GRAB) from a buy rating to a hold rating in a report released on Thursday morning, MarketBeat.com reports. They currently have $5.40 target price on the stock.

GRAB has been the topic of several other reports. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Mizuho increased their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets assumed 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. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.42.

Grab Price Performance

Shares of NASDAQ GRAB opened at $5.07 on Thursday. The company has a fifty day moving average price of $4.09 and a 200 day moving average price of $3.68. Grab has a 1-year low of $2.90 and a 1-year high of $5.72. The firm has a market cap of $20.42 billion, a PE ratio of -253.50 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the prior year, the firm posted ($0.02) EPS. 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 business. Blue Trust Inc. lifted its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC acquired a new stake in shares of Grab in the 2nd quarter valued at approximately $38,000. Traynor Capital Management Inc. bought a new stake in shares of Grab during the 3rd quarter valued at approximately $41,000. Dorsey & Whitney Trust CO LLC increased its position in Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Prospect Financial Services LLC bought a new position in Grab in the 2nd quarter valued at approximately $53,000. 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.