Grab (NASDAQ:GRAB) Price Target Raised to $6.50 at Barclays

Grab (NASDAQ:GRAB) had its target price boosted by Barclays from $5.50 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 34.77% from the stock’s current price.

Several other brokerages also recently weighed in on GRAB. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Thursday. Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, HSBC upgraded Grab from a “hold” rating to a “buy” rating and dropped their target price for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.63.

Grab Stock Performance

GRAB stock traded down $0.52 during midday trading on Thursday, reaching $4.82. The stock had a trading volume of 54,214,017 shares, compared to its average volume of 34,830,625. The firm has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $4.26. The stock has a market cap of $19.42 billion, a PE ratio of -241.75, a P/E/G ratio of 2.21 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. Grab has a 52-week low of $2.98 and a 52-week high of $5.72.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. As a group, equities research analysts anticipate that Grab will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Grab

Institutional investors have recently bought and sold shares of the company. Twin Tree Management LP acquired a new stake in Grab in the 4th quarter worth about $25,000. Campbell Capital Management Inc. acquired a new stake in Grab in the 4th quarter worth about $30,000. Global Retirement Partners LLC acquired a new stake in Grab in the 4th quarter worth about $30,000. TD Private Client Wealth LLC boosted its holdings in Grab by 7,238.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock worth $38,000 after buying an additional 7,890 shares during the last quarter. Finally, Allianz SE acquired a new stake in Grab in the 4th quarter worth about $44,000. 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.