Grab (NASDAQ:GRAB – Get Free Report) was upgraded by stock analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday,Finviz reports. The brokerage currently has a $5.10 price target on the stock, up from their previous price target of $4.90. Bank of America‘s price objective suggests a potential upside of 4.72% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. HSBC cut Grab from a “buy” rating to a “hold” rating and lifted their price objective for the company from $4.25 to $5.50 in a research note on Thursday, December 5th. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research note on Thursday, November 21st. 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 note on Tuesday, November 12th. Evercore ISI lifted their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Barclays lifted their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.55.
Read Our Latest Stock Report on Grab
Grab Price Performance
Grab (NASDAQ:GRAB – Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The company 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 quarter last year, the firm earned ($0.02) earnings per share. As a group, research analysts anticipate that Grab will post -0.03 earnings per share for the current year.
Institutional Trading of Grab
A number of institutional investors have recently bought and sold shares of GRAB. Principal Financial Group Inc. lifted its holdings in Grab by 9.0% during the 2nd quarter. Principal Financial Group Inc. now owns 144,649 shares of the company’s stock worth $514,000 after buying an additional 11,987 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Grab by 16.3% in the 2nd quarter. TD Asset Management Inc now owns 594,362 shares of the company’s stock valued at $2,110,000 after purchasing an additional 83,096 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Grab in the 2nd quarter valued at about $327,000. Acadian Asset Management LLC lifted its holdings in shares of Grab by 69.7% in the 2nd quarter. Acadian Asset Management LLC now owns 118,927 shares of the company’s stock valued at $420,000 after purchasing an additional 48,839 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in shares of Grab in the 2nd quarter valued at about $65,000. 55.52% of the stock is owned by hedge funds and other institutional investors.
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.
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