Grab (NASDAQ:GRAB) Cut to “Hold” at HSBC

HSBC downgraded shares of Grab (NASDAQ:GRAB) from a buy rating to a hold rating in a research report released on Thursday morning, MarketBeat Ratings reports. HSBC currently has $5.50 price target on the stock, up from their prior price target of $4.25.

A number of other equities analysts have also weighed in on the company. Mizuho increased their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. 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 note on Thursday, November 21st. Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. Barclays increased their target price on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Bank of America lowered Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price on the stock. in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $5.53.

Grab Stock Performance

GRAB opened at $5.14 on Thursday. Grab has a 12-month low of $2.90 and a 12-month high of $5.72. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of -257.00 and a beta of 0.90. The business has a 50 day moving average of $4.39 and a 200-day moving average of $3.79. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (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 analysts’ expectations of $705.40 million. During the same period last year, the firm posted ($0.02) earnings per share. On average, equities research analysts expect that Grab will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the last quarter. Traynor Capital Management Inc. bought a new position in shares of Grab in the 3rd quarter valued at $41,000. Sage Rhino Capital LLC bought a new position in shares of Grab in the 2nd quarter valued at $38,000. Glenmede Trust Co. NA bought a new position in shares of Grab in the 3rd quarter valued at $53,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of 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 purchasing an additional 3,795 shares during 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.