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

Grab (NASDAQ:GRAB) was downgraded by China Renaissance from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports. They currently have a $5.40 price target on the stock. China Renaissance’s target price would indicate a potential downside of 4.59% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Evercore ISI upped their target price on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets assumed coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Barclays boosted their price objective on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Mizuho increased their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5.47.

Grab Trading Up 3.7 %

Shares of NASDAQ GRAB opened at $5.66 on Thursday. The company has a market cap of $22.20 billion, a PE ratio of -283.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm’s 50 day moving average price is $4.02 and its 200-day moving average price is $3.65. Grab has a 52-week low of $2.90 and a 52-week high of $5.67.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate 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 period last year, the business posted ($0.02) EPS. On average, equities research analysts expect that Grab will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently bought and sold shares of the business. Blue Trust Inc. increased its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in shares of Grab in the 2nd quarter worth about $38,000. Traynor Capital Management Inc. purchased a new position in shares of Grab during the 3rd quarter worth about $41,000. Dorsey & Whitney Trust CO LLC grew its holdings in Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the last quarter. Finally, Prospect Financial Services LLC purchased a new stake in Grab in the 2nd quarter worth about $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.