Grab (NASDAQ:GRAB) Stock Price Down 9.2% – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB) shares fell 9.2% on Friday . The company traded as low as $5.11 and last traded at $5.15. 19,082,880 shares changed hands during trading, a decline of 25% from the average session volume of 25,540,049 shares. The stock had previously closed at $5.67.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GRAB. Evercore ISI upped their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets began coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Barclays increased their price objective on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Bank of America downgraded Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.42.

Grab Price Performance

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 company’s 50-day simple moving average is $4.06 and its 200-day simple moving average is $3.67. The company has a market capitalization of $20.05 billion, a PE ratio of -262.50 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same period in the prior year, the company earned ($0.02) EPS. As a group, sell-side analysts anticipate that Grab Holdings Limited will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares during the period. Baillie Gifford & Co. acquired a new stake in Grab during the 2nd quarter worth about $166,587,000. Coronation Fund Managers Ltd. grew its holdings in shares of Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after acquiring an additional 10,410,574 shares in the last quarter. State Street Corp increased its holdings in Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after buying an additional 967,233 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after acquiring an additional 8,635,310 shares in the last quarter. 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.