Grab (NASDAQ:GRAB) Sets New 12-Month High – Here’s What Happened

Shares of Grab Holdings Limited (NASDAQ:GRAB) reached a new 52-week high during trading on Monday . The stock traded as high as $4.95 and last traded at $4.95, with a volume of 20587333 shares changing hands. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GRAB shares. Evercore ISI increased their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Barclays lifted their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. Finally, Mizuho lifted their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.48.

Grab Stock Performance

The stock has a market capitalization of $19.58 billion, a PE ratio of -236.50 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $3.90 and its 200-day moving average is $3.62.

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 return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same period in the previous year, the company posted ($0.02) EPS. As a group, research analysts anticipate that Grab Holdings Limited will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently made changes to their positions in GRAB. Blue Trust Inc. boosted 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 purchasing an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of Grab during the third quarter worth approximately $41,000. Sage Rhino Capital LLC acquired a new position in Grab during the second quarter worth $38,000. Glenmede Trust Co. NA acquired a new stake in Grab in the third quarter valued at $53,000. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Company Profile

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.