Grab (NASDAQ:GRAB) Shares Gap Up – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRABGet Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.90, but opened at $5.30. Grab shares last traded at $5.34, with a volume of 43,472,530 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Barclays boosted their price objective on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday. HSBC upgraded 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 research report on Tuesday, February 4th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Evercore ISI boosted their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

Get Our Latest Research Report on Grab

Grab Price Performance

The stock has a market capitalization of $19.25 billion, a price-to-earnings ratio of -239.00, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a fifty day simple moving average of $4.78 and a 200 day simple moving average of $4.26. 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:GRABGet Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. Equities research analysts forecast that Grab Holdings Limited will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ellevest Inc. boosted its holdings in Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock worth $391,000 after acquiring an additional 2,636 shares in the last quarter. Empowered Funds LLC boosted its holdings in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after acquiring an additional 3,147 shares in the last quarter. Blue Trust Inc. boosted its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after acquiring an additional 3,408 shares in the last quarter. FNY Investment Advisers LLC boosted its holdings in Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock worth $135,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Wedbush Securities Inc. raised its stake in shares of Grab by 19.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock worth $103,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

About Grab

(Get Free Report)

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.

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