Grab (NASDAQ:GRAB) Shares Gap Up – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB) gapped up prior to trading on Tuesday . The stock had previously closed at $4.90, but opened at $5.30. Grab shares last traded at $5.34, with a volume of 43,472,530 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GRAB shares. Evercore ISI increased their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Mizuho increased their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Barclays raised their target price on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Performance

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’s fifty day moving average price is $4.78 and its 200-day moving average price is $4.26. The company has a market cap of $21.28 billion, a P/E ratio of -264.25, a P/E/G ratio of 1.95 and a beta of 0.90.

Hedge Funds Weigh In On Grab

Several large investors have recently added to or reduced their stakes in GRAB. Uber Technologies Inc bought a new stake in shares of Grab during the fourth quarter valued at approximately $2,529,462,000. Toyota Motor Corp acquired a new stake in Grab during the fourth quarter worth $1,052,117,000. Wellington Management Group LLP increased its holdings in Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares during the period. Hanwha Asset Management Co. Ltd. acquired a new position in shares of Grab in the 4th quarter valued at $227,718,000. Finally, Baillie Gifford & Co. raised its stake in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after buying an additional 4,259,537 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.