Grab (NASDAQ:GRAB) Shares Gap Up – Still a Buy?

Grab Holdings Limited (NASDAQ:GRAB) gapped up before the market opened on Tuesday . The stock had previously closed at $4.45, but opened at $4.64. Grab shares last traded at $4.56, with a volume of 6,165,111 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective for the company in a research report on Friday, February 21st. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday, November 21st. HSBC raised Grab from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Finally, Citigroup restated a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Stock Performance

The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The stock has a market cap of $18.97 billion, a price-to-earnings ratio of -235.50, a PEG ratio of 2.26 and a beta of 0.88. The stock’s 50 day moving average is $4.66 and its two-hundred day moving average is $4.46.

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

Institutional Investors Weigh In On Grab

Hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC raised its position in Grab by 10.9% in the third quarter. Metis Global Partners LLC now owns 53,262 shares of the company’s stock worth $202,000 after acquiring an additional 5,221 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Grab by 4.9% in the third quarter. CIBC Asset Management Inc now owns 203,901 shares of the company’s stock valued at $775,000 after acquiring an additional 9,466 shares in the last quarter. Empowered Funds LLC lifted its holdings in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares in the last quarter. Swiss National Bank boosted its position in Grab by 0.9% during the third quarter. Swiss National Bank now owns 6,274,800 shares of the company’s stock worth $23,844,000 after acquiring an additional 55,100 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Grab during the third quarter worth $2,757,000. 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.