JPMorgan Chase & Co. Issues Positive Forecast for Grab (NASDAQ:GRAB) Stock Price

Grab (NASDAQ:GRAB) had its price objective hoisted by JPMorgan Chase & Co. from $5.00 to $5.70 in a research note released on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on GRAB. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday. Jefferies Financial Group dropped their price objective on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Evercore ISI raised their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.28.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $4.89 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of -97.80 and a beta of 0.81. The stock’s fifty day moving average price is $3.81 and its two-hundred day moving average price is $3.59. Grab has a one year low of $2.90 and a one year high of $4.93.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same period in the prior year, the company posted ($0.02) earnings per share. On average, equities analysts forecast that Grab will post -0.04 EPS for the current year.

Institutional Trading of Grab

Several large investors have recently bought and sold shares of the business. Baillie Gifford & Co. bought a new position in shares of Grab in the second quarter worth about $166,587,000. Coronation Fund Managers Ltd. boosted its position in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after buying an additional 10,410,574 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after buying an additional 3,163,309 shares in the last quarter. Finally, Prudential PLC lifted its stake in shares of Grab by 13.9% in the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock valued at $71,803,000 after acquiring an additional 2,461,934 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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.