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

Grab Holdings Limited (NASDAQ:GRAB)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $4.54, but opened at $4.98. Grab shares last traded at $5.08, with a volume of 21,400,892 shares traded.

Analysts Set New Price Targets

Several research analysts have recently commented on GRAB shares. JPMorgan Chase & Co. lowered Grab from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Mizuho raised their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore ISI boosted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research note on Thursday, November 21st. Finally, Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.54.

Grab Stock Performance

The company has a market capitalization of $18.36 billion, a PE ratio of -228.00, a P/E/G ratio of 1.91 and a beta of 0.90. The stock’s 50-day simple moving average is $4.84 and its 200 day simple moving average is $4.15. 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:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period last year, the firm earned ($0.02) earnings per share. As a group, research analysts expect that Grab Holdings Limited will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Grab during the fourth quarter worth approximately $429,000. Smartleaf Asset Management LLC grew its position in shares of Grab by 570.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 13,234 shares of the company’s stock valued at $63,000 after buying an additional 11,259 shares during the last quarter. US Bancorp DE raised its stake in Grab by 4,851.4% during the 4th quarter. US Bancorp DE now owns 328,578 shares of the company’s stock worth $1,551,000 after acquiring an additional 321,942 shares in the last quarter. Kovack Advisors Inc. purchased a new stake in Grab in the fourth quarter valued at $233,000. Finally, New York Life Investment Management LLC acquired a new position in Grab in the fourth quarter valued at $48,000. Hedge funds and other 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.