Grab (NASDAQ:GRAB) Stock Rating Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Grab (NASDAQ:GRAB – Free Report) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks reports.

A number of other equities research analysts have also weighed in on GRAB. Bank of America restated a “buy” rating on shares of Grab in a research note on Friday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of Grab from $4.80 to $5.10 and gave the company an “overweight” rating in a research report on Tuesday. Barclays lowered their target price on shares of Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Benchmark reissued a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Finally, KeyCorp set a $7.00 target price on shares of Grab in a research report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus price target of $5.67.

Check Out Our Latest Research Report on Grab

Grab Stock Up 3.6%

Shares of GRAB stock opened at $3.48 on Wednesday. Grab has a 1-year low of $2.67 and a 1-year high of $6.24. The stock’s fifty day moving average price is $3.07 and its 200 day moving average price is $3.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.38 and a quick ratio of 1.51. The company has a market cap of $14.26 billion, a price-to-earnings ratio of 69.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.83.

Grab (NASDAQ:GRAB – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a return on equity of 8.45% and a net margin of 14.76%. On average, research analysts expect that Grab will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Grab

In other news, CEO Ping Tan acquired 10,350,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of $2.89 per share, with a total value of $29,911,500.00. Following the completion of the acquisition, the chief executive officer owned 10,778,498 shares of the company’s stock, valued at approximately $31,149,859.22. This trade represents a 2,415.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wolfgang Kandal sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $3.00, for a total value of $90,000.00. Following the completion of the transaction, the insider owned 3,928,735 shares of the company’s stock, valued at approximately $11,786,205. The trade was a 0.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 899,349 shares of company stock worth $3,089,155 in the last quarter. 3.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. boosted its holdings in Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock worth $119,321,000 after buying an additional 13,919,053 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Grab in the first quarter valued at $48,731,000. Bank of America Corp DE increased its holdings in Grab by 80.2% in the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after buying an additional 10,681,810 shares in the last quarter. BlackRock Inc. increased its holdings in Grab by 6.4% in the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after buying an additional 9,357,389 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Grab by 129.1% in the first quarter. Hsbc Holdings PLC now owns 14,786,634 shares of the company’s stock worth $54,056,000 after acquiring an additional 8,331,486 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab News Roundup

Here are the key news stories impacting Grab this week:

Grab Company Profile

(Get Free Report)

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.

Further Reading

Analyst Recommendations for Grab (NASDAQ:GRAB)

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