Grab (NASDAQ:GRAB) Upgraded to Hold 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 report issued on Friday.

Several other equities analysts also recently weighed in on GRAB. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. Benchmark raised their price objective on shares of Grab from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of Grab in a report on Tuesday, November 4th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Finally, Mizuho set a $7.00 price target on Grab in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $6.58.

Grab Stock Performance

NASDAQ:GRAB opened at $4.58 on Friday. 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 stock has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $5.35. The firm has a market capitalization of $18.44 billion, a PE ratio of 114.53 and a beta of 0.90. Grab has a 52-week low of $3.36 and a 52-week high of $6.62.

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 analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. Analysts forecast that Grab will post 0.05 EPS for the current year.

Institutional Trading of Grab

Hedge funds have recently bought and sold shares of the stock. OVERSEA CHINESE BANKING Corp Ltd increased its position in Grab by 66.5% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,770,976 shares of the company’s stock valued at $64,782,000 after purchasing an additional 4,302,224 shares during the period. Nordea Investment Management AB boosted its stake in shares of Grab by 15.7% during the third quarter. Nordea Investment Management AB now owns 19,886,007 shares of the company’s stock valued at $120,509,000 after purchasing an additional 2,695,472 shares in the last quarter. Stanley Laman Group Ltd. bought a new position in shares of Grab during the third quarter valued at approximately $1,204,000. Alberta Investment Management Corp purchased a new position in Grab during the second quarter valued at approximately $1,215,000. Finally, Hsbc Holdings PLC raised its stake in Grab by 13.6% in the second quarter. Hsbc Holdings PLC now owns 7,935,800 shares of the company’s stock worth $39,931,000 after buying an additional 949,297 shares in 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.