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

Grab Holdings Limited (NASDAQ:GRAB)’s stock 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 trading hands.

A number of other research analysts have also issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. Barclays boosted their price objective on shares of Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Jefferies Financial Group restated a “buy” rating and set a $7.00 target price on shares of Grab in a research report on Tuesday, November 4th. Wall Street Zen cut shares of Grab from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Mizuho set a $7.00 price objective on Grab in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC acquired a new stake in shares of Grab in the second quarter worth $33,000. Advisory Services Network LLC purchased a new stake in Grab during the 3rd quarter worth $38,000. Caitong International Asset Management Co. Ltd increased its holdings in Grab by 51.2% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock valued at $39,000 after purchasing an additional 2,634 shares in the last quarter. Larson Financial Group LLC raised its position in Grab by 162,500.0% in the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after purchasing an additional 6,500 shares during the period. Finally, Allworth Financial LP raised its position in Grab by 70.9% in the third quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after purchasing an additional 3,354 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Stock Performance

The stock has a 50 day simple moving average of $5.14 and a 200 day simple moving average of $5.36. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 109.53 and a beta of 0.90.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company 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%. As a group, analysts predict that Grab Holdings Limited will post 0.05 EPS for the current year.

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.