Grab (NASDAQ:GRAB) Stock Rating Upgraded by Hsbc Global Res

Grab (NASDAQ:GRAB) was upgraded by Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.50 to $5.45 in a report on Tuesday. Mizuho upped their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Daiwa Capital Markets initiated coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Finally, Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and upped their target price for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Performance

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

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

Institutional Investors Weigh In On Grab

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new stake in Grab in the 4th quarter worth approximately $30,000. Blue Trust Inc. boosted its position in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in Grab in the 4th quarter worth approximately $48,000. Atria Wealth Solutions Inc. purchased a new position in shares of Grab during the 4th quarter valued at approximately $49,000. Finally, Traynor Capital Management Inc. purchased a new position in shares of Grab during the 3rd quarter valued at approximately $41,000. 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.