Grab (NASDAQ:GRAB) Trading Up 3.2% – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB) shares shot up 3.2% on Tuesday . The stock traded as high as $5.15 and last traded at $5.15. 11,014,488 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 24,841,000 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GRAB. JPMorgan Chase & Co. increased their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. 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 upped 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. Daiwa Capital Markets began coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target on the stock. Finally, Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday, November 12th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab currently has a consensus rating of “Buy” and a consensus price target of $5.48.

Grab Trading Up 3.7 %

The business’s 50 day moving average price is $4.02 and its two-hundred day moving average price is $3.65. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of -283.00 and a beta of 0.81.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same period last year, the company posted ($0.02) EPS. On average, equities analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC raised its holdings in Grab by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after buying an additional 3,020 shares during the last quarter. Empowered Funds LLC raised its holdings in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. raised its holdings in Grab by 53.6% in the 3rd 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 last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after purchasing an additional 3,941 shares during the last quarter. 55.52% of the stock is currently 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.