Grab (NASDAQ:GRAB) Sees Large Volume Increase

Grab Holdings Limited (NASDAQ:GRAB) saw strong trading volume on Wednesday . 27,005,982 shares were traded during trading, an increase of 22% from the previous session’s volume of 22,157,020 shares.The stock last traded at $3.64 and had previously closed at $3.57.

Wall Street Analyst Weigh In

Several research firms have weighed in on GRAB. Barclays increased their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Jefferies Financial Group cut their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho started coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $4.71.

Grab Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The stock’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $3.40. The stock has a market capitalization of $14.12 billion, a PE ratio of -51.00 and a beta of 0.81.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) earnings per share. As a group, analysts expect that Grab Holdings Limited will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. Goldman Sachs Group Inc. grew its position in Grab by 1.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock valued at $25,774,000 after purchasing an additional 126,365 shares during the last quarter. California State Teachers Retirement System grew its holdings in Grab by 3.8% during the fourth quarter. California State Teachers Retirement System now owns 2,326,539 shares of the company’s stock valued at $7,840,000 after purchasing an additional 85,670 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Grab by 0.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock worth $3,103,000 after buying an additional 5,317 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Grab by 125.0% in the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock worth $3,348,000 after buying an additional 590,580 shares during the period. Finally, Prudential PLC boosted its position in shares of Grab by 1.9% in the fourth quarter. Prudential PLC now owns 15,176,454 shares of the company’s stock worth $51,145,000 after purchasing an additional 279,196 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.