Grab (NASDAQ:GRAB) Upgraded to “Neutral” at Bank of America

Bank of America upgraded shares of Grab (NASDAQ:GRAB) from an underperform rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $5.10 price objective on the stock, up from their previous price objective of $4.90.

A number of other research firms also recently commented on GRAB. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. HSBC lowered Grab from a “buy” rating to a “hold” rating and upped their price objective for the company from $4.25 to $5.50 in a research note on Thursday, December 5th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a research report on Thursday, November 21st. Finally, Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.55.

Grab Stock Down 2.3 %

GRAB stock opened at $4.63 on Tuesday. The business’s 50-day simple moving average is $4.92 and its 200 day simple moving average is $4.01. 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 $18.65 billion, a PE ratio of -231.50 and a beta of 0.90. Grab has a twelve month low of $2.90 and a twelve month high of $5.72.

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. The business 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 in the previous year, the business posted ($0.02) earnings per share. On average, research analysts anticipate that Grab will post -0.03 earnings per share for the current year.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new position in Grab during the 2nd quarter worth about $57,696,000. Wellington Management Group LLP raised its stake in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after acquiring an additional 14,671,388 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Grab during the third quarter worth approximately $38,000,000. Marshall Wace LLP grew its stake in shares of Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after purchasing an additional 8,635,310 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Grab by 179.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after purchasing an additional 8,004,912 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.