Mizuho Issues Positive Forecast for Grab (NASDAQ:GRAB) Stock Price

Grab (NASDAQ:GRAB) had its target price lifted by equities research analysts at Mizuho from $5.00 to $6.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 22.70% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday. Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Tuesday. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. Evercore ISI boosted their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Grab has a consensus rating of “Buy” and an average target price of $5.39.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.89 on Wednesday. The company’s 50 day simple moving average is $3.81 and its 200 day simple moving average is $3.59. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of -244.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. Grab has a 1 year low of $2.90 and a 1 year high of $4.93.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, research analysts predict that Grab will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC acquired a new position in Grab in the first quarter valued at $32,000. Blue Trust Inc. lifted 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 period. Sage Rhino Capital LLC acquired a new position in shares of Grab during the second quarter valued at about $38,000. Traynor Capital Management Inc. acquired a new position in shares of Grab during the third quarter valued at about $41,000. Finally, Prospect Financial Services LLC acquired a new position in shares of Grab during the second quarter valued at about $53,000. Institutional investors and hedge funds 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.