JPMorgan Chase & Co. Downgrades Grab (NASDAQ:GRAB) to Neutral

Grab (NASDAQ:GRAB) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday, Marketbeat.com reports.

Several other research firms have also recently commented on GRAB. Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Mizuho raised their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore ISI lifted their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. Finally, HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.50 to $5.45 in a report on Tuesday. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average price target of $5.54.

Grab Stock Up 2.4 %

Grab stock opened at $4.67 on Wednesday. Grab has a twelve month low of $2.98 and a twelve month high of $5.72. The stock has a 50 day moving average of $4.83 and a two-hundred day moving average of $4.15. 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 stock has a market capitalization of $18.81 billion, a price-to-earnings ratio of -233.50, a PEG ratio of 1.91 and a beta of 0.90.

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

Hedge Funds Weigh In On Grab

Hedge funds have recently bought and sold shares of the stock. Perpetual Ltd purchased a new stake in shares of Grab in the fourth quarter valued at $213,177,000. Wellington Management Group LLP grew its position in shares of Grab by 13.4% in the third 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. purchased a new stake in shares of Grab in the third quarter valued at $38,000,000. Assenagon Asset Management S.A. grew its position in shares of Grab by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after purchasing an additional 8,868,071 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Grab by 179.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after purchasing an additional 8,004,912 shares during the period. 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.