Grab (NASDAQ:GRAB) Lowered to “Hold” Rating by China Renaissance

Grab (NASDAQ:GRAB) was downgraded by equities research analysts at China Renaissance from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat Ratings reports. They currently have a $5.40 target price on the stock. China Renaissance’s target price points to a potential upside of 6.51% from the company’s current price.

A number of other research firms also recently weighed in on GRAB. Mizuho boosted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Barclays raised their target price on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets began coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.

Grab Stock Down 10.6 %

Shares of NASDAQ:GRAB opened at $5.07 on Thursday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The firm has a market cap of $19.89 billion, a P/E ratio of -253.50 and a beta of 0.81. Grab has a 12 month low of $2.90 and a 12 month high of $5.72. The company’s 50-day moving average price is $4.09 and its two-hundred day moving average price is $3.68.

Grab (NASDAQ:GRAB) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $705.40 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, research analysts forecast that Grab will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its holdings in shares of Grab by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after acquiring an additional 3,020 shares in the last quarter. Empowered Funds LLC increased its stake 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 purchasing an additional 3,147 shares in the last quarter. Blue Trust Inc. raised its holdings in 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 buying an additional 3,408 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after buying an additional 3,941 shares during the period. 55.52% of the stock is currently owned by institutional investors.

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.