Hsbc Global Res Upgrades Grab (NASDAQ:GRAB) to Strong-Buy

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

Several other equities research analysts also recently weighed in on the company. Barclays raised their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Mizuho raised their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.54.

Grab Stock Down 10.8 %

Shares of NASDAQ GRAB opened at $4.56 on Tuesday. The stock has a 50-day moving average price of $4.84 and a two-hundred day moving average price of $4.15. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. 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 company has a market cap of $18.36 billion, a price-to-earnings ratio of -228.00, a PEG ratio of 1.91 and a beta of 0.90.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data 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 business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. As a group, analysts forecast that Grab will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Hedge funds have recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in 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 acquiring an additional 3,147 shares during the period. Blue Trust Inc. boosted its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. FNY Investment Advisers LLC grew its stake in Grab by 13.9% during the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock worth $135,000 after purchasing an additional 3,500 shares during the period. Asset Management One Co. Ltd. increased its holdings in Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after purchasing an additional 3,941 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after buying an additional 4,725 shares during the period. Institutional investors own 55.52% of the company’s stock.

About Grab

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.