Grab (NASDAQ:GRAB) Rating Increased to Neutral at Bank of America

Bank of America upgraded shares of Grab (NASDAQ:GRAB) from an underperform rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have $5.10 target price on the stock, up from their previous target price of $4.90.

Other equities research analysts have also recently issued reports about the stock. Mizuho boosted their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target on the stock. Barclays increased their target price on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI raised 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. Finally, China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and an average price target of $5.55.

Grab Stock Down 2.7 %

GRAB opened at $4.74 on Tuesday. The business has a 50 day moving average price of $4.90 and a 200 day moving average price of $4.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab has a twelve month low of $2.90 and a twelve month high of $5.72. The firm has a market cap of $19.09 billion, a P/E ratio of -237.00 and a beta of 0.90.

Grab (NASDAQ:GRAB) last released its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the previous year, the business earned ($0.02) EPS. Research analysts forecast that Grab will post -0.03 EPS for the current year.

Institutional Trading of Grab

A number of hedge funds have recently modified their holdings of GRAB. Blue Trust Inc. grew its holdings in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in shares of Grab in the third quarter valued at approximately $41,000. Dorsey & Whitney Trust CO LLC increased its position in shares of Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after acquiring an additional 3,795 shares during the period. Glenmede Trust Co. NA acquired a new stake in Grab in the 3rd quarter valued at about $53,000. Finally, Wedbush Securities Inc. purchased a new position in Grab in the second quarter worth approximately $65,000. 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.