Grab (NASDAQ:GRAB) Price Target Lowered to $5.00 at Barclays

Grab (NASDAQ:GRAB) had its price target reduced by research analysts at Barclays from $7.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 31.41% from the stock’s current price.

Other research analysts have also issued reports about the stock. Morgan Stanley reissued an “overweight” rating and set a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Mizuho decreased their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. One 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.01.

Grab Trading Down 0.1%

Shares of Grab stock opened at $3.81 on Thursday. The business’s fifty day moving average is $3.59 and its two-hundred day moving average is $4.02. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. Grab has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The firm has a market cap of $15.59 billion, a PE ratio of 379.88, a P/E/G ratio of 1.55 and a beta of 0.87.

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

Insider Activity

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction on Monday, June 15th. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00. Following the transaction, the chief executive officer owned 425,193 shares in the company, valued at $1,492,427.43. This trade represents a 48.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Grab stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the transaction, the insider owned 3,781,306 shares in the company, valued at $13,423,636.30. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,766,093 shares of company stock valued at $6,384,921. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grab

Several large investors have recently added to or reduced their stakes in GRAB. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after purchasing an additional 1,050,619 shares during the period. Altimeter Capital Management LP acquired a new stake in Grab in the 3rd quarter valued at $1,764,000. Massachusetts Financial Services Co. MA grew its position in Grab by 98.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after acquiring an additional 3,711,860 shares during the period. Oaktree Capital Management LP grew its position in Grab by 4.5% in the third quarter. Oaktree Capital Management LP now owns 12,094,495 shares of the company’s stock valued at $72,809,000 after acquiring an additional 525,200 shares during the period. Finally, SG Americas Securities LLC raised its stake in Grab by 49.2% during the fourth quarter. SG Americas Securities LLC now owns 4,640,032 shares of the company’s stock worth $23,154,000 after acquiring an additional 1,531,017 shares in the last quarter. Institutional investors and hedge funds 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.