Grab (NASDAQ:GRAB) Stock Rating Lowered by Bank of America

Bank of America cut shares of Grab (NASDAQ:GRAB) from a buy rating to an underperform rating in a report released on Friday morning, MarketBeat.com reports. The firm currently has $4.90 price target on the stock.

Other research analysts have also issued reports about the stock. Barclays boosted their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Mizuho raised their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.

Grab Stock Performance

GRAB opened at $5.14 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The business’s 50-day simple moving average is $4.13 and its 200 day simple moving average is $3.69. The firm has a market capitalization of $20.70 billion, a PE ratio of -257.00 and a beta of 0.81. Grab has a 52-week low of $2.90 and a 52-week high of $5.72.

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

Hedge Funds Weigh In On Grab

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Sage Rhino Capital LLC acquired a new stake in Grab during the second quarter worth approximately $38,000. Traynor Capital Management Inc. bought a new position in Grab during the 3rd quarter worth $41,000. Dorsey & Whitney Trust CO LLC raised its holdings in Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after acquiring an additional 3,795 shares in the last quarter. Finally, Prospect Financial Services LLC bought a new stake in shares of Grab during the 2nd quarter valued at $53,000. 55.52% of the stock is 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.