Grab (NASDAQ:GRAB) Given New $6.00 Price Target at Mizuho

Grab (NASDAQ:GRAB) had its target price increased by Mizuho from $5.00 to $6.00 in a research note published on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the stock.

GRAB has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday. 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 research report on Wednesday, July 17th. Evercore ISI lifted their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday. Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab presently has an average rating of “Buy” and a consensus target price of $5.48.

Grab Trading Down 2.2 %

Shares of NASDAQ GRAB traded down $0.11 during midday trading on Wednesday, reaching $4.78. The company had a trading volume of 4,502,634 shares, compared to its average volume of 24,432,111. The stock has a market cap of $18.75 billion, a PE ratio of -244.50 and a beta of 0.81. Grab has a one year low of $2.90 and a one year high of $4.93. The firm’s fifty day moving average price is $3.84 and its 200-day moving average price is $3.60. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last released its quarterly earnings data 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 firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, equities research analysts anticipate that Grab will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after buying an additional 3,163,309 shares during the period. Cohen Capital Management Inc. bought a new position in shares of Grab during the third quarter valued at approximately $1,723,000. Quadrature Capital Ltd increased its stake in shares of Grab by 125.0% during the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after purchasing an additional 590,580 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Grab by 43.4% during the second quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after purchasing an additional 1,555,579 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock worth $3,135,000 after purchasing an additional 133,531 shares in the last quarter. 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.