Grab (NASDAQ:GRAB) Stock Price Down 9.2% – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB)’s stock price was down 9.2% during trading on Friday . The company traded as low as $5.11 and last traded at $5.15. Approximately 19,082,880 shares changed hands during trading, a decline of 25% from the average daily volume of 25,540,049 shares. The stock had previously closed at $5.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Finally, Evercore ISI upped their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.42.

Grab Price Performance

The firm has a market cap of $20.42 billion, a PE ratio of -253.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm has a 50-day simple moving average of $4.09 and a 200 day simple moving average of $3.68.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, equities analysts expect that Grab Holdings Limited will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Vanguard Group Inc. increased its holdings in shares of Grab by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,505,636 shares of the company’s stock valued at $23,568,000 after acquiring an additional 166,063 shares in the last quarter. Acadian Asset Management LLC increased its stake in Grab by 14.7% during the 1st quarter. Acadian Asset Management LLC now owns 70,088 shares of the company’s stock valued at $219,000 after purchasing an additional 8,970 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Grab by 32.2% in the first quarter. Advisors Asset Management Inc. now owns 29,739 shares of the company’s stock worth $93,000 after buying an additional 7,239 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Grab by 20.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 364,983 shares of the company’s stock valued at $1,147,000 after buying an additional 61,183 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Grab by 5.3% during the first quarter. California State Teachers Retirement System now owns 2,449,429 shares of the company’s stock valued at $7,691,000 after acquiring an additional 122,890 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

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.