Grab (NASDAQ:GRAB) Rating Lowered to Neutral at JPMorgan Chase & Co.

Grab (NASDAQ:GRAB) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

Other analysts have also recently issued reports about the company. Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Evercore ISI raised their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their price target for the company from $5.50 to $5.45 in a report on Tuesday. Barclays raised their price target on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average price target of $5.54.

Grab Trading Up 12.6 %

Shares of GRAB stock opened at $5.11 on Wednesday. The business’s 50 day moving average is $4.85 and its two-hundred day moving average is $4.15. Grab has a twelve month low of $2.98 and a twelve month high of $5.72. The company has a market capitalization of $20.58 billion, a P/E ratio of -255.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same period last year, the business posted ($0.02) EPS. Equities analysts forecast that Grab will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Grab

Several hedge funds have recently bought and sold shares of GRAB. Perpetual Ltd purchased a new position in Grab during the fourth quarter worth $213,177,000. Wellington Management Group LLP increased its position in Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new position in Grab during the third quarter worth $38,000,000. Assenagon Asset Management S.A. increased its position in Grab by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock worth $79,989,000 after buying an additional 8,868,071 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Grab by 179.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock worth $47,357,000 after buying an additional 8,004,912 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.