Grab (NASDAQ:GRAB) Price Target Raised to $6.50 at Barclays

Grab (NASDAQ:GRAB) had its price objective raised by stock analysts at Barclays from $5.50 to $6.50 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 34.77% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. HSBC upgraded Grab from a “hold” rating to a “buy” rating and decreased their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut Grab from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 5th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Evercore ISI upped their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average target price of $5.63.

Grab Trading Down 9.7 %

GRAB traded down $0.52 during trading hours on Thursday, reaching $4.82. The company’s stock had a trading volume of 54,214,017 shares, compared to its average volume of 34,830,625. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The stock has a market cap of $19.42 billion, a PE ratio of -241.75, a P/E/G ratio of 2.21 and a beta of 0.90. The business’s 50-day moving average is $4.78 and its 200-day moving average is $4.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. As a group, equities research analysts predict that Grab will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Grab

A number of large investors have recently modified their holdings of the stock. Ellevest Inc. increased its position in shares of Grab by 3.3% during the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock worth $391,000 after acquiring an additional 2,636 shares during the period. Empowered Funds LLC increased its position in shares of Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after acquiring an additional 3,147 shares during the period. Blue Trust Inc. increased its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC increased its holdings in Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after buying an additional 3,500 shares during the last quarter. Finally, Wedbush Securities Inc. increased its holdings in Grab by 19.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.