Grab (NASDAQ:GRAB) Given New $8.00 Price Target at Evercore ISI

Grab (NASDAQ:GRAB) had its price objective hoisted by stock analysts at Evercore ISI from $7.00 to $8.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price target indicates a potential upside of 70.58% from the stock’s previous close.

Several other equities analysts have also issued reports on GRAB. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday. Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $5.07.

Grab Stock Up 7.1 %

NASDAQ GRAB opened at $4.69 on Tuesday. Grab has a one year low of $2.90 and a one year high of $4.72. The company has a market capitalization of $18.40 billion, a P/E ratio of -93.80 and a beta of 0.81. The stock has a 50 day moving average price of $3.78 and a 200-day moving average price of $3.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that Grab will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Several large investors have recently bought and sold shares of GRAB. Empowered Funds LLC purchased a new stake in shares of Grab during the first quarter worth approximately $111,000. Forsta AP Fonden lifted its holdings in Grab by 1.1% in the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock valued at $1,734,000 after purchasing an additional 6,100 shares in the last quarter. Sei Investments Co. boosted its position in Grab by 107.2% during the first quarter. Sei Investments Co. now owns 5,013,111 shares of the company’s stock worth $15,741,000 after acquiring an additional 2,593,616 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Grab in the first quarter valued at $236,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Grab by 6.4% during the 1st quarter. Russell Investments Group Ltd. now owns 3,393,371 shares of the company’s stock valued at $10,655,000 after acquiring an additional 205,128 shares during the last quarter. Institutional investors and hedge funds 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.