Grab (NASDAQ:GRAB) Shares Gap Up After Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped up before the market opened on Friday after Hsbc Global Res upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $4.39, but opened at $4.58. Grab shares last traded at $4.4550, with a volume of 17,933,523 shares.

Other analysts have also recently issued reports about the company. Barclays raised their price objective on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Mizuho set a $7.00 price objective on shares of Grab in a research report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 target price for the company in a report on Friday. Finally, Wall Street Zen cut shares of Grab from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One research 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, Grab presently has a consensus rating of “Buy” and a consensus price target of $6.58.

Institutional Trading of Grab

Hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC bought a new position in shares of Grab during the second quarter worth approximately $33,000. Advisory Services Network LLC acquired a new stake in Grab during the third quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd increased its stake in Grab by 51.2% during the 2nd 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. Larson Financial Group LLC raised its holdings in Grab by 162,500.0% in the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Allworth Financial LP lifted its position in shares of Grab by 70.9% during the 3rd quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after acquiring an additional 3,354 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Down 0.2%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.83. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 109.53 and a beta of 0.90. The firm has a fifty day moving average price of $5.14 and a 200-day moving average price of $5.36.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $873.00 million for the quarter, compared to the consensus estimate of $870.44 million. Grab had a return on equity of 1.91% and a net margin of 3.81%. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

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.