Grab (NASDAQ:GRAB) Stock Price Expected to Rise, Barclays Analyst Says

Grab (NASDAQ:GRAB) had its price objective boosted by Barclays from $4.70 to $5.50 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

GRAB has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Mizuho raised their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets assumed coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $5.48.

Grab Price Performance

NASDAQ GRAB opened at $4.73 on Wednesday. The company has a market cap of $18.56 billion, a PE ratio of -236.50 and a beta of 0.81. The firm’s 50 day moving average price is $3.90 and its 200-day moving average price is $3.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.70. Grab has a 52-week low of $2.90 and a 52-week high of $4.93.

Grab (NASDAQ:GRAB) last announced its earnings results 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 quarter last year, the firm earned ($0.02) EPS. Sell-side analysts forecast that Grab will post -0.03 EPS for the current fiscal year.

Institutional Trading of Grab

Several large investors have recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Grab during the first quarter worth about $32,000. Blue Trust Inc. raised its position in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC acquired a new stake in Grab during the 2nd quarter valued at approximately $38,000. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the 3rd quarter valued at $41,000. Finally, Prospect Financial Services LLC acquired a new stake in shares of Grab in the second quarter worth $53,000. Hedge funds and other 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.