Grab (NASDAQ:GRAB) Cut to “Underperform” at Bank of America

Bank of America lowered shares of Grab (NASDAQ:GRAB) from a buy rating to an underperform rating in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has $4.90 target price on the stock.

Several other analysts have also recently weighed in on GRAB. Daiwa Capital Markets initiated coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Barclays lifted their price target on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI increased their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Mizuho lifted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.42.

Grab Price Performance

GRAB stock opened at $5.07 on Friday. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of -253.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The company has a 50 day simple moving average of $4.09 and a 200 day simple moving average of $3.68. Grab has a 1 year low of $2.90 and a 1 year high of $5.72.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same period in the prior year, the business earned ($0.02) earnings per share. Research analysts anticipate that Grab will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in GRAB. Blue Trust Inc. lifted its stake in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new position in Grab during the third quarter worth $41,000. Sage Rhino Capital LLC acquired a new stake in Grab in the second quarter worth $38,000. Glenmede Trust Co. NA bought a new stake in Grab in the third quarter valued at $53,000. Finally, Dorsey & Whitney Trust CO LLC raised its holdings in shares of Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the period. Institutional investors own 55.52% of the company’s stock.

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.