Bank of America Downgrades Grab (NASDAQ:GRAB) to Underperform

Grab (NASDAQ:GRAB) was downgraded by Bank of America from a “buy” rating to an “underperform” rating in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $4.90 price target on the stock. Bank of America‘s target price points to a potential downside of 3.35% from the stock’s current price.

GRAB has been the subject of several other reports. Barclays upped their target price on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday. Mizuho raised their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI lifted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.42.

Grab Stock Down 10.6 %

Shares of GRAB stock opened at $5.07 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock has a market cap of $20.42 billion, a PE ratio of -253.50 and a beta of 0.81. The business’s fifty day moving average is $4.09 and its 200-day moving average is $3.68. Grab has a 1 year low of $2.90 and a 1 year high of $5.72.

Grab (NASDAQ:GRAB) last issued 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 during the quarter, compared to the consensus estimate of $705.40 million. During the same period in the prior year, the company earned ($0.02) EPS. Equities analysts expect that Grab will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Grab by 18.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after acquiring an additional 3,163,309 shares during the period. Cohen Capital Management Inc. bought a new stake in shares of Grab in the 3rd quarter valued at approximately $1,723,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Grab in the 3rd quarter worth approximately $1,986,000. Quadrature Capital Ltd lifted its position in shares of Grab by 125.0% during the 1st 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, Toronto Dominion Bank lifted its position in shares of Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock worth $18,238,000 after buying an additional 1,555,579 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.