Grab (NASDAQ:GRAB) Stock Price Expected to Rise, Barclays Analyst Says

Grab (NASDAQ:GRAB) had its price target increased by Barclays from $5.50 to $6.50 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research note on Thursday, November 21st. Evercore ISI increased their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Mizuho increased their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Performance

NASDAQ:GRAB opened at $4.90 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. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The stock has a market cap of $19.73 billion, a PE ratio of -245.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The firm’s fifty day simple moving average is $4.76 and its 200-day simple moving average is $4.29.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Analysts expect that Grab will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds have recently modified their holdings of GRAB. Baillie Gifford & Co. boosted its position in shares of Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after acquiring an additional 4,259,537 shares during the last quarter. Tidal Investments LLC boosted its position in shares of Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Grab in the third quarter worth approximately $22,434,000. Leibman Financial Services Inc. acquired a new stake in shares of Grab in the fourth quarter worth approximately $937,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Grab by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock worth $22,220,000 after acquiring an additional 134,243 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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.