Grab (NASDAQ:GRAB) Price Target Cut to $5.90 by Analysts at JPMorgan Chase & Co.

Grab (NASDAQ:GRAB) had its price objective lowered by JPMorgan Chase & Co. from $6.10 to $5.90 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Wall Street Zen raised shares of Grab from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Benchmark reissued a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Sanford C. Bernstein restated an “outperform” rating and set a $5.80 price target on shares of Grab in a research report on Monday, January 26th. Finally, HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Grab currently has an average rating of “Buy” and a consensus price target of $6.56.

Grab Price Performance

Shares of Grab stock opened at $4.21 on Monday. The firm has a market cap of $17.25 billion, a PE ratio of 140.38, a P/E/G ratio of 1.00 and a beta of 0.99. Grab has a twelve month low of $3.48 and a twelve month high of $6.62. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $3.93 and a 200 day moving average price of $4.77.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a return on equity of 4.09% and a net margin of 7.92%. Sell-side analysts predict that Grab will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Grab

In related news, insider Philipp Wolfgang Josef Kandal sold 20,000 shares of Grab stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $4.00, for a total transaction of $80,000.00. Following the transaction, the insider owned 4,125,430 shares in the company, valued at approximately $16,501,720. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.62, for a total value of $137,560.00. Following the transaction, the insider directly owned 2,116,051 shares in the company, valued at $7,660,104.62. This trade represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 552,819 shares of company stock valued at $2,056,657. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently modified their holdings of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Grab during the fourth quarter worth about $25,000. Parallel Advisors LLC grew its stake in shares of Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after buying an additional 4,601 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Grab in the 3rd quarter valued at approximately $38,000. Signaturefd LLC increased its holdings in shares of Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after buying an additional 2,543 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of Grab by 162,500.0% during the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after buying an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Company Profile

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.