Grab (NASDAQ:GRAB) Rating Increased to Overweight at JPMorgan Chase & Co.

Grab (NASDAQ:GRAB) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $5.60 price target on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 14.29% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and cut their price target for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Barclays upped their price target on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Mizuho upped their price target on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and upped their price target for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Trading Up 2.5 %

NASDAQ GRAB opened at $4.90 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The firm has a market cap of $19.73 billion, a PE ratio of -245.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The company has a 50 day moving average price of $4.76 and a 200 day moving average price of $4.29. Grab has a 52 week low of $2.98 and a 52 week high of $5.72.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, sell-side analysts forecast that Grab will post 0.05 EPS for the current fiscal year.

Institutional Trading of Grab

A number of hedge funds have recently added to or reduced their stakes in GRAB. Uber Technologies Inc purchased a new stake in Grab during the fourth quarter worth $2,529,462,000. Toyota Motor Corp purchased a new position in Grab during the fourth quarter valued at $1,052,117,000. Hanwha Asset Management Co. Ltd. purchased a new position in Grab during the fourth quarter valued at $227,718,000. Perpetual Ltd purchased a new position in Grab during the fourth quarter valued at $213,177,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Grab by 5,066.0% during the fourth 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 in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

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.