Grab (NASDAQ:GRAB) Price Target Lowered to $4.70 at Jefferies Financial Group

Grab (NASDAQ:GRAB) had its price objective decreased by stock analysts at Jefferies Financial Group from $5.00 to $4.70 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 34.67% from the stock’s current price.

Several other brokerages also recently issued reports on GRAB. Barclays upped their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. HSBC reaffirmed a “buy” rating and issued a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Grab in a report on Friday, May 17th. They issued a “buy” rating and a $4.50 price target on the stock. Finally, Mizuho began coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $5.02.

Grab Stock Performance

NASDAQ GRAB traded down $0.06 during trading on Wednesday, reaching $3.49. The company’s stock had a trading volume of 23,780,342 shares, compared to its average volume of 22,385,006. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.22 and a current ratio of 3.26. The firm has a market cap of $13.69 billion, a price-to-earnings ratio of -50.14 and a beta of 0.81. Grab has a twelve month low of $2.90 and a twelve month high of $3.92. The business’s fifty day moving average price is $3.60 and its 200-day moving average price is $3.38.

Grab (NASDAQ:GRAB) last issued its earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $662.48 million. Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. As a group, analysts anticipate that Grab will post -0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Grab by 8.1% during the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares during the period. Cigna Investments Inc. New boosted its position in Grab by 12.9% during the 2nd quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after acquiring an additional 4,595 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Grab by 0.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock worth $3,103,000 after acquiring an additional 5,317 shares during the period. Forsta AP Fonden lifted its holdings in shares of Grab by 1.1% during the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock valued at $1,734,000 after buying an additional 6,100 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Grab by 32.2% during the 1st quarter. Advisors Asset Management Inc. now owns 29,739 shares of the company’s stock valued at $93,000 after buying an additional 7,239 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.