Grab (NASDAQ:GRAB) Trading 5.2% Higher – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB) shares rose 5.2% during trading on Tuesday . The company traded as high as $4.48 and last traded at $4.34. Approximately 7,896,652 shares traded hands during trading, a decline of 72% from the average daily volume of 28,221,280 shares. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays boosted their target price on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and raised their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Evercore ISI boosted their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Grab currently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Stock Up 3.0 %

The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a market cap of $17.09 billion, a PE ratio of -212.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The stock has a fifty day simple moving average of $4.71 and a two-hundred day simple moving average of $4.41.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. As a group, sell-side analysts expect that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Uber Technologies Inc bought a new position in shares of Grab in the fourth quarter worth approximately $2,529,462,000. Toyota Motor Corp purchased a new stake in Grab during the 4th quarter valued at $1,052,117,000. Hanwha Asset Management Co. Ltd. bought a new stake in Grab in the 4th quarter worth $227,718,000. Perpetual Ltd purchased a new position in shares of Grab in the fourth quarter valued at about $213,177,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock valued at $160,075,000 after acquiring an additional 33,257,610 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Company Profile

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.