JPMorgan Chase & Co. Has Lowered Expectations for Grab (NASDAQ:GRAB) Stock Price

Grab (NASDAQ:GRAB) had its price objective lowered by JPMorgan Chase & Co. from $5.60 to $5.30 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 28.80% from the stock’s previous close.

Several other analysts also recently issued reports on GRAB. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Barclays lifted their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

Grab Price Performance

Shares of GRAB opened at $4.12 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm has a market capitalization of $16.57 billion, a PE ratio of -205.75, a P/E/G ratio of 2.26 and a beta of 0.88. The stock has a 50 day simple moving average of $4.50 and a 200 day simple moving average of $4.56. Grab has a 52-week low of $2.98 and a 52-week high of $5.72.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting 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 company had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Sell-side analysts predict that Grab will post 0.05 EPS for the current fiscal year.

Institutional Trading of Grab

Large investors have recently added to or reduced their stakes in the company. Uber Technologies Inc bought a new stake in shares of Grab in the 4th quarter valued at about $2,529,462,000. Toyota Motor Corp acquired a new position in Grab during the fourth quarter worth approximately $1,052,117,000. Hanwha Asset Management Co. Ltd. bought a new stake in Grab in the fourth quarter valued at approximately $227,718,000. Perpetual Ltd bought a new position in shares of Grab during the 4th quarter worth approximately $213,177,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 acquiring an additional 33,257,610 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.