Grab (NASDAQ:GRAB) Shares Up 3.2% – Should You Buy?

Shares of Grab Holdings Limited (NASDAQ:GRAB) traded up 3.2% during trading on Tuesday . The stock traded as high as $5.15 and last traded at $5.15. 11,014,488 shares traded hands during trading, a decline of 56% from the average session volume of 24,841,000 shares. The stock had previously closed at $4.99.

Analyst Ratings Changes

Several brokerages have recently issued reports on GRAB. Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Barclays lifted their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI boosted their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $5.48.

Grab Price Performance

The company has a market cap of $21.54 billion, a PE ratio of -266.00 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. The firm has a 50 day moving average of $3.93 and a two-hundred day moving average of $3.63.

Grab (NASDAQ:GRAB) last announced 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 during the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the firm earned ($0.02) earnings per share. Research analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently added to or reduced their stakes in GRAB. Baillie Gifford & Co. purchased a new stake in Grab during the second quarter worth about $166,587,000. Point72 Asset Management L.P. acquired a new position in Grab during the second quarter worth approximately $57,696,000. Wellington Management Group LLP boosted 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 valued at $472,394,000 after purchasing an additional 14,671,388 shares during the period. Coronation Fund Managers Ltd. boosted its stake in Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after acquiring an additional 10,410,574 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Grab during the third quarter worth $38,000,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.