Grab (NASDAQ:GRAB) Sees Strong Trading Volume on Analyst Upgrade

Grab Holdings Limited (NASDAQ:GRAB) saw an uptick in trading volume on Wednesday after Barclays raised their price target on the stock from $4.70 to $5.50. Barclays currently has an overweight rating on the stock. 15,538,405 shares traded hands during mid-day trading, a decline of 36% from the previous session’s volume of 24,228,771 shares.The stock last traded at $4.80 and had previously closed at $4.89.

GRAB has been the topic of a number of other research reports. Daiwa Capital Markets initiated 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. JPMorgan Chase & Co. lifted their price target on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday. Evercore ISI boosted their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Tuesday. Finally, Jefferies Financial Group decreased their price target 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, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. acquired a new position in Grab during the 2nd quarter worth approximately $166,587,000. Point72 Asset Management L.P. acquired a new position in shares of Grab during the 2nd quarter worth $57,696,000. Coronation Fund Managers Ltd. grew its stake in shares of Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after purchasing an additional 10,410,574 shares during the period. Tree Line Advisors Hong Kong Ltd. acquired a new stake in Grab in the 3rd quarter valued at about $38,000,000. Finally, Marshall Wace LLP boosted its stake in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after purchasing an additional 8,635,310 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

The company 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 current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The company’s 50 day simple moving average is $3.84 and its 200-day simple moving average is $3.60.

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

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.