Grab (NASDAQ:GRAB) Upgraded at Bank of America

Bank of America upgraded shares of Grab (NASDAQ:GRAB) from an underperform rating to a neutral rating in a research report report published on Tuesday, Marketbeat Ratings reports. Bank of America currently has $5.10 price objective on the stock, up from their previous price objective of $4.90.

Other equities analysts have also recently issued reports about the stock. Daiwa Capital Markets started coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on 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 raised their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.55.

Grab Stock Down 2.3 %

NASDAQ:GRAB opened at $4.63 on Tuesday. Grab has a 1-year low of $2.90 and a 1-year high of $5.72. The firm has a market capitalization of $18.65 billion, a price-to-earnings ratio of -231.50 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $4.92 and its 200 day moving average price is $4.01.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in Grab during the second quarter valued at about $57,696,000. Wellington Management Group LLP boosted its stake in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares during the period. Tree Line Advisors Hong Kong Ltd. acquired a new stake in Grab in the 3rd quarter valued at approximately $38,000,000. Marshall Wace LLP increased its position in Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Grab by 179.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock worth $47,357,000 after buying an additional 8,004,912 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.