Grab (NASDAQ:GRAB) Upgraded to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of Grab (NASDAQ:GRAB) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Barclays upped their target price on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI upped their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.50 to $5.45 in a research report on Tuesday. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. upped their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Up 12.6 %

Shares of GRAB stock opened at $5.11 on Tuesday. The stock has a 50 day moving average of $4.85 and a 200-day moving average of $4.15. 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 firm has a market cap of $20.58 billion, a PE ratio of -255.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. Grab has a 12 month low of $2.98 and a 12 month high of $5.72.

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 during the quarter, compared to analyst estimates 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 in the prior year, the company posted ($0.02) earnings per share. On average, equities analysts predict that Grab will post -0.02 EPS for the current year.

Institutional Trading of Grab

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Tidal Investments LLC boosted its holdings in Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Grab in the third quarter valued at about $22,434,000. Leibman Financial Services Inc. bought a new position in Grab in the fourth quarter valued at about $937,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Grab in the third quarter valued at about $2,757,000. 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.