Grab (NASDAQ:GRAB) Raised to Buy at HSBC

HSBC upgraded shares of Grab (NASDAQ:GRAB) from a hold rating to a buy rating in a report released on Tuesday morning, MarketBeat.com reports. They currently have $5.45 target price on the stock, down from their prior target price of $5.50.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Barclays upped their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Hsbc Global Res cut shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. Finally, Evercore ISI lifted their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Stock Performance

Shares of GRAB stock opened at $4.67 on Tuesday. Grab has a 52 week low of $2.98 and a 52 week high of $5.72. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of -233.50, a PEG ratio of 1.91 and a beta of 0.90. The company has a 50-day simple moving average of $4.83 and a 200 day simple moving average of $4.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The company 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 quarter in the previous year, the company posted ($0.02) earnings per share. On average, sell-side analysts predict that Grab will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Grab

A number of large investors have recently modified their holdings of GRAB. Empowered Funds LLC raised its holdings in shares of Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after buying an additional 3,147 shares in the last quarter. Blue Trust Inc. raised its stake in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after acquiring an additional 3,408 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock worth $135,000 after acquiring an additional 3,500 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Grab by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after purchasing an additional 3,941 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after purchasing an additional 4,725 shares during the last quarter. Institutional investors and hedge funds 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.