Grab (NASDAQ:GRAB) Downgraded to Hold Rating by Hsbc Global Res

Grab (NASDAQ:GRAB) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. 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. Daiwa Capital Markets initiated coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Mizuho lifted their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, HSBC cut Grab from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $4.25 to $5.50 in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.53.

Grab Stock Down 1.3 %

GRAB opened at $5.24 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The business has a 50 day simple moving average of $4.34 and a 200-day simple moving average of $3.77. The stock has a market capitalization of $21.10 billion, a P/E ratio of -262.00 and a beta of 0.90. Grab has a 12 month low of $2.90 and a 12 month high of $5.72.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period last year, the firm earned ($0.02) EPS. On average, equities analysts anticipate that Grab will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Several hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC grew its position in shares of Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after purchasing an additional 435,014 shares during the period. Toronto Dominion Bank grew its position in shares of Grab by 20.2% in the third quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company’s stock valued at $23,457,000 after purchasing an additional 1,035,269 shares during the period. Geode Capital Management LLC grew its position in shares of Grab by 2.9% in the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after purchasing an additional 591,898 shares during the period. M&T Bank Corp grew its position in shares of Grab by 1.7% in the third quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock valued at $1,274,000 after purchasing an additional 5,545 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Grab in the third quarter valued at $696,000. 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.