Grab (NASDAQ:GRAB) Upgraded to “Buy” at HSBC

HSBC upgraded shares of Grab (NASDAQ:GRAB) from a hold rating to a buy rating in a research note published on Tuesday, MarketBeat Ratings reports. They currently have $5.45 price target on the stock, down from their prior price target of $5.50.

Several other research firms have also recently commented on GRAB. Hsbc Global Res cut Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research report on Thursday, November 21st. Barclays lifted their target price 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. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. increased their target price on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Stock Up 12.6 %

GRAB stock opened at $5.11 on Tuesday. Grab has a twelve month low of $2.98 and a twelve month high of $5.72. The firm has a market capitalization of $20.58 billion, a PE ratio of -255.50, a PEG ratio of 1.91 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $4.85 and a two-hundred day simple moving average of $4.15.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, equities analysts predict that Grab will post -0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its holdings in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after acquiring an additional 4,259,537 shares during the last quarter. Perpetual Ltd purchased a new position in shares of Grab in the fourth quarter valued at about $213,177,000. State Street Corp raised its stake in shares of Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after acquiring an additional 967,233 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its holdings in shares of Grab by 11.4% during the third quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock worth $128,196,000 after purchasing an additional 3,442,581 shares during the period. 55.52% of the stock is currently owned by institutional investors.

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.