Grab (NASDAQ:GRAB) Stock Price Up 5.5% – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB)’s stock price was up 5.5% during trading on Wednesday . The stock traded as high as $5.07 and last traded at $5.05. Approximately 25,365,736 shares changed hands during trading, a decline of 9% from the average daily volume of 27,902,209 shares. The stock had previously closed at $4.78.

Analyst Ratings Changes

A number of research analysts have recently commented on GRAB shares. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and upped their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Evercore ISI lifted their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut shares of Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Mizuho upped their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Up 4.5 %

The business has a 50 day moving average of $4.81 and a two-hundred day moving average of $4.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock has a market capitalization of $20.11 billion, a PE ratio of -249.85, a PEG ratio of 1.95 and a beta of 0.90.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period last year, the business earned ($0.02) EPS. Analysts predict that Grab Holdings Limited will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hanwha Asset Management Co. Ltd. acquired a new stake in shares of Grab in the 4th quarter worth $227,718,000. Perpetual Ltd purchased a new stake in shares of Grab during the fourth quarter worth about $213,177,000. Arrowstreet Capital Limited Partnership raised its position in shares of Grab by 5,066.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock valued at $160,075,000 after purchasing an additional 33,257,610 shares during the last quarter. Norges Bank acquired a new stake in Grab in the 4th quarter worth approximately $145,927,000. Finally, Wellington Management Group LLP grew its position in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Company Profile

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.