Grab (NASDAQ:GRAB) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Grab (NASDAQ:GRAB) from a neutral rating to an overweight rating in a research report released on Friday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $5.60 price objective on the stock.

A number of other brokerages have also weighed in on GRAB. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Thursday. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and dropped their price objective for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Barclays raised their target price on shares of Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Up 2.5 %

GRAB stock opened at $4.90 on Friday. The stock has a market capitalization of $19.73 billion, a P/E ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.90. Grab has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $4.29. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Equities analysts forecast that Grab will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Blue Trust Inc. increased 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 worth $35,000 after purchasing an additional 3,408 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Grab by 129.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock valued at $30,700,000 after acquiring an additional 4,557,800 shares during the last quarter. Traynor Capital Management Inc. acquired a new stake in shares of Grab during the third quarter valued at about $41,000. First Trust Direct Indexing L.P. raised its stake in shares of Grab by 34.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after acquiring an additional 4,725 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of Grab by 25.7% in the 3rd quarter. New York State Common Retirement Fund now owns 7,777,606 shares of the company’s stock worth $29,555,000 after acquiring an additional 1,588,169 shares during the last quarter. Hedge funds and other 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.