Grab (NASDAQ:GRAB) Upgraded at Wall Street Zen

Grab (NASDAQ:GRAB) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. Benchmark lifted their target price on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Barclays upped their price target on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective on the stock in a research report on Friday, January 16th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $7.00 target price on shares of Grab in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $6.58.

Grab Stock Performance

Shares of Grab stock opened at $4.58 on Friday. Grab has a 1 year low of $3.36 and a 1 year high of $6.62. The firm’s 50-day moving average is $5.02 and its 200 day moving average is $5.35. The stock has a market cap of $18.44 billion, a price-to-earnings ratio of 114.53 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81.

Grab (NASDAQ:GRAB) last issued its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $870.44 million. Grab had a return on equity of 1.91% and a net margin of 3.81%. Sell-side analysts anticipate that Grab will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of Grab during the 3rd quarter valued at about $38,000. AlphaCore Capital LLC bought a new stake in Grab during the second quarter valued at approximately $33,000. Signaturefd LLC increased its holdings in Grab by 64.6% during the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the last quarter. Larson Financial Group LLC increased its holdings in Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after buying an additional 6,500 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Grab by 51.2% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock worth $39,000 after acquiring an additional 2,634 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.