Grab (NASDAQ:GRAB) Downgraded to Hold Rating by China Renaissance

China Renaissance downgraded shares of Grab (NASDAQ:GRAB) from a buy rating to a hold rating in a research note released on Thursday, Marketbeat.com reports. China Renaissance currently has $5.40 price target on the stock.

Several other equities research analysts have also recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. Evercore ISI raised their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Barclays raised their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Mizuho increased their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Daiwa Capital Markets began coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.42.

Grab Price Performance

Shares of NASDAQ GRAB opened at $5.07 on Thursday. The stock has a fifty day simple moving average of $4.09 and a two-hundred day simple moving average of $3.68. Grab has a 1-year low of $2.90 and a 1-year high of $5.72. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of -253.50 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $716.00 million during 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 prior year, the business earned ($0.02) EPS. Analysts anticipate that Grab will post -0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Toronto Dominion Bank grew its position in Grab by 20.2% during the 3rd quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company’s stock worth $23,457,000 after purchasing an additional 1,035,269 shares during the period. Geode Capital Management LLC increased its holdings in Grab by 2.9% in the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after buying an additional 591,898 shares in the last quarter. M&T Bank Corp raised its stake in shares of Grab by 1.7% during the 3rd quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock worth $1,274,000 after buying an additional 5,545 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Grab during the third quarter valued at $696,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Grab by 1.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 583,500 shares of the company’s stock worth $2,217,000 after purchasing an additional 9,600 shares during the last quarter. 55.52% of the stock is 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.