Grab (NASDAQ:GRAB) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Grab (NASDAQ:GRAB) from an overweight rating to a neutral rating in a research note published on Wednesday morning, Marketbeat Ratings reports.

Other research analysts have also recently issued research reports about the stock. Mizuho raised their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and cut their target price for the company from $5.50 to $5.45 in a research note on Tuesday. Daiwa Capital Markets started coverage on shares of Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Finally, Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. 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 company. Based on data from MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and an average price target of $5.54.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.79 on Wednesday. Grab has a one year low of $2.98 and a one year high of $5.72. The stock has a fifty day moving average of $4.82 and a 200-day moving average of $4.16. The company has a market capitalization of $19.29 billion, a PE ratio of -239.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last released its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the prior year, the company earned ($0.02) earnings per share. As a group, equities analysts anticipate that Grab will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Wellington Management Group LLP boosted its stake in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after buying an additional 14,671,388 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after purchasing an additional 4,259,537 shares during the last quarter. Perpetual Ltd acquired a new stake in Grab in the 4th quarter valued at about $213,177,000. State Street Corp raised its holdings in Grab by 2.3% in the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after acquiring an additional 967,233 shares during the period. Finally, Coronation Fund Managers Ltd. raised its holdings in Grab by 11.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock valued at $128,196,000 after acquiring an additional 3,442,581 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

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.