Grab (NASDAQ:GRAB) Trading 3.9% Higher – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB)’s stock price was up 3.9% during trading on Wednesday . The stock traded as high as $4.76 and last traded at $4.72. Approximately 13,947,219 shares traded hands during trading, a decline of 50% from the average daily volume of 28,076,227 shares. The stock had previously closed at $4.54.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GRAB shares. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Barclays upped their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Citigroup reiterated a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Price Performance

The company’s fifty day moving average price is $4.67 and its two-hundred day moving average price is $4.50. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company has a market cap of $19.02 billion, a price-to-earnings ratio of -235.75, a PEG ratio of 2.26 and a beta of 0.88.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Uber Technologies Inc acquired a new position in Grab during the 4th quarter worth approximately $2,529,462,000. Toyota Motor Corp acquired a new position in Grab during the fourth quarter worth $1,052,117,000. Wellington Management Group LLP grew its position in Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Hanwha Asset Management Co. Ltd. acquired a new stake in Grab in the 4th quarter valued at $227,718,000. Finally, Baillie Gifford & Co. lifted its position in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after buying an additional 4,259,537 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

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.