Barclays Increases Grab (NASDAQ:GRAB) Price Target to $5.50

Grab (NASDAQ:GRAB) had its target price upped by Barclays from $4.70 to $5.50 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

GRAB has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday. Mizuho upped their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group lowered their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Evercore ISI increased their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Daiwa Capital Markets started coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab has a consensus rating of “Buy” and a consensus target price of $5.48.

Grab Price Performance

NASDAQ:GRAB opened at $4.73 on Wednesday. The company has a market cap of $18.56 billion, a PE ratio of -236.50 and a beta of 0.81. Grab has a twelve month low of $2.90 and a twelve month high of $4.93. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $3.90 and its two-hundred day moving average is $3.61.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period in the prior year, the firm earned ($0.02) EPS. Analysts anticipate that Grab will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Grab

Large investors have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Grab in the first quarter valued at about $32,000. Blue Trust Inc. raised its position in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC acquired a new stake in shares of Grab in the second quarter valued at about $38,000. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the third quarter valued at about $41,000. Finally, Prospect Financial Services LLC purchased a new stake in shares of Grab in the second quarter valued at about $53,000. 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.