Grab (NASDAQ:GRAB) Stock Price Down 1.7%

Shares of Grab Holdings Limited (NASDAQ:GRAB) fell 1.7% during mid-day trading on Wednesday . The company traded as low as $3.51 and last traded at $3.53. 29,781,149 shares traded hands during trading, an increase of 49% from the average session volume of 20,038,304 shares. The stock had previously closed at $3.59.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a research note on Friday, May 17th. They issued a “buy” rating and a $4.50 price objective for the company. HSBC restated a “buy” rating and issued a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Barclays boosted their price objective on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Finally, Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, May 16th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $5.07.

Grab Stock Performance

The firm has a market cap of $13.81 billion, a PE ratio of -50.28 and a beta of 0.82. The business has a 50 day simple moving average of $3.56 and a two-hundred day simple moving average of $3.33. The company has a quick ratio of 3.22, a current ratio of 3.26 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $662.48 million. Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. As a group, equities research analysts forecast that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lake Street Advisors Group LLC raised its holdings in shares of Grab by 0.4% in the third quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock valued at $2,465,000 after acquiring an additional 2,972 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Grab by 9.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock valued at $141,000 after purchasing an additional 3,510 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Grab by 9.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock valued at $148,000 after purchasing an additional 3,632 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Grab by 0.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after purchasing an additional 4,200 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Grab by 0.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock valued at $3,103,000 after purchasing an additional 5,317 shares in the last quarter. Institutional investors 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.