Grab (NASDAQ:GRAB) Given New $5.00 Price Target at Barclays

Grab (NASDAQ:GRAB) had its price target trimmed by Barclays from $7.00 to $5.00 in a report published on Thursday, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on GRAB. JPMorgan Chase & Co. dropped their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Morgan Stanley reissued an “overweight” rating and issued a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Mizuho reduced their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.01.

Grab Price Performance

GRAB stock opened at $3.88 on Thursday. The business’s fifty day moving average price is $3.59 and its 200 day moving average price is $4.01. Grab has a 12-month low of $3.18 and a 12-month high of $6.62. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $15.90 billion, a PE ratio of 388.39, a P/E/G ratio of 1.50 and a beta of 0.87.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. On average, sell-side analysts anticipate that Grab will post 0.1 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the transaction, the chief executive officer owned 25,193 shares in the company, valued at approximately $92,458.31. This represents a 94.07% decrease in their position. The transaction was disclosed in a legal 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 48,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the sale, the insider owned 3,781,306 shares of the company’s stock, valued at approximately $13,423,636.30. The trade was a 1.25% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,366,093 shares of company stock worth $4,912,921. Insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Grab in the 4th quarter valued at $161,484,000. PointState Capital LP lifted its position in Grab by 411.1% in the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock valued at $162,452,000 after acquiring an additional 26,186,329 shares during the last quarter. Marshall Wace LLP boosted its stake in Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after acquiring an additional 23,891,108 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Grab by 173.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after acquiring an additional 22,038,961 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Grab by 24.9% in the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after acquiring an additional 15,916,063 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.