Grab (NASDAQ:GRAB) Shares Gap Down to $3.37

Shares of Grab Holdings Limited (NASDAQ:GRAB) gapped down before the market opened on Thursday . The stock had previously closed at $3.37, but opened at $3.30. Grab shares last traded at $3.18, with a volume of 10,642,748 shares traded.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Barclays raised their target price on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a report on Friday, May 17th. They set a “buy” rating and a $4.50 target price for the company. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Thursday, May 16th. Finally, Mizuho assumed coverage on Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab currently has an average rating of “Buy” and a consensus target price of $5.02.

Grab Stock Performance

The firm has a fifty day moving average of $3.46 and a 200 day moving average of $3.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.26 and a quick ratio of 3.22. The stock has a market cap of $12.48 billion, a price-to-earnings ratio of -45.29 and a beta of 0.81.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $662.48 million. As a group, sell-side analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current year.

Institutional Trading of Grab

Several institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in shares of Grab by 9.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock valued at $141,000 after purchasing an additional 3,510 shares during the period. Cerity Partners LLC acquired a new stake in Grab during the 4th quarter worth approximately $58,000. NewEdge Wealth LLC boosted its position in Grab by 17.1% in the 4th quarter. NewEdge Wealth LLC now owns 124,093 shares of the company’s stock valued at $418,000 after buying an additional 18,094 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Grab by 28.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 259,415 shares of the company’s stock worth $874,000 after acquiring an additional 56,794 shares in the last quarter. Finally, abrdn plc increased its position in shares of Grab by 30.4% during the fourth quarter. abrdn plc now owns 717,794 shares of the company’s stock worth $2,419,000 after acquiring an additional 167,162 shares during the period. Institutional investors and hedge funds 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.