Grab (NASDAQ:GRAB) Lowered to “Hold” Rating by China Renaissance

China Renaissance lowered shares of Grab (NASDAQ:GRAB) from a buy rating to a hold rating in a report published on Thursday morning, MarketBeat Ratings reports. They currently have $5.40 price target on the stock.

Other equities analysts have also recently issued reports about the company. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Barclays lifted their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI lifted their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.42.

Grab Stock Performance

NASDAQ GRAB opened at $5.25 on Thursday. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The stock has a market cap of $20.60 billion, a price-to-earnings ratio of -283.46 and a beta of 0.81. The business has a fifty day moving average of $4.06 and a 200-day moving average of $3.67. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, analysts predict that Grab will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of institutional investors have recently added to or reduced their stakes in GRAB. Sequoia Financial Advisors LLC boosted its position in shares of Grab by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after buying an additional 3,020 shares during the period. Empowered Funds LLC boosted its position in shares of Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after buying an additional 3,147 shares during the period. Blue Trust Inc. boosted its position in shares of Grab by 53.6% in the third 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 period. Dorsey & Whitney Trust CO LLC boosted its position in shares of Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after buying an additional 3,795 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in shares of Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after buying an additional 3,941 shares during the period. Hedge funds and other institutional investors 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.