Grab (NASDAQ:GRAB) Rating Lowered to “Hold” at Hsbc Global Res

Grab (NASDAQ:GRAB) was downgraded by investment analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Bank of America lowered Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a research note on Friday, November 22nd. Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. HSBC lowered Grab from a “buy” rating to a “hold” rating and increased their price objective for the company from $4.25 to $5.50 in a report on Thursday. Barclays lifted their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.53.

Grab Trading Down 1.9 %

NASDAQ:GRAB opened at $5.14 on Thursday. 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 firm has a 50-day simple moving average of $4.37 and a 200-day simple moving average of $3.78. Grab has a one year low of $2.90 and a one year high of $5.72. The firm has a market cap of $20.70 billion, a P/E ratio of -260.00 and a beta of 0.90.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same period in the prior year, the business posted ($0.02) EPS. Equities analysts anticipate that Grab will post -0.03 EPS for the current fiscal year.

Institutional Trading of Grab

Several hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in Grab by 8.1% during the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after acquiring an additional 3,020 shares during the last quarter. Empowered Funds LLC increased its position in shares of Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after purchasing 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 period. Dorsey & Whitney Trust CO LLC boosted its position in shares of Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after purchasing an additional 3,795 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in Grab by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after purchasing an additional 3,941 shares during the last quarter. Hedge funds and other institutional investors 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.