Grab (NASDAQ:GRAB) Rating Increased to Hold at Zacks Research

Grab (NASDAQ:GRAB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. Mizuho cut their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. JPMorgan Chase & Co. cut their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Wednesday, May 6th. Morgan Stanley set a $5.90 target price on Grab in a research report on Wednesday, May 6th. Finally, Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Grab Trading Down 5.3%

Shares of GRAB opened at $3.41 on Tuesday. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $13.97 billion, a P/E ratio of 341.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. The stock’s fifty day simple moving average is $3.71 and its 200 day simple moving average is $4.30. Grab has a twelve month low of $3.38 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB) last issued its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. On average, equities research analysts forecast that Grab will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total transaction of $196,000.00. Following the completion of the sale, the chief financial officer directly owned 7,050,165 shares in the company, valued at $27,636,646.80. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the sale, the insider owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,118,819 shares of company stock valued at $4,114,677. 3.60% of the stock is owned by company insiders.

Institutional Trading of Grab

Large investors have recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab during the fourth quarter valued at about $25,000. Parallel Advisors LLC grew its stake in shares of Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after acquiring an additional 4,601 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Grab during the third quarter valued at about $38,000. Signaturefd LLC grew its stake in shares of Grab by 64.6% during the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after acquiring an additional 2,543 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after acquiring an additional 6,500 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.