Grab (NASDAQ:GRAB) Shares Gap Down to $3.37

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $3.37, but opened at $3.30. Grab shares last traded at $3.18, with a volume of 10,642,748 shares traded.

Analysts Set New Price Targets

GRAB has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Thursday, May 16th. Mizuho initiated coverage on Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price for the company. Barclays upped their price target on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a report on Friday, May 17th. They issued a “buy” rating and a $4.50 price objective for the company. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $5.02.

Grab Stock Performance

The company has a market cap of $12.48 billion, a P/E ratio of -45.29 and a beta of 0.81. The company has a quick ratio of 3.22, a current ratio of 3.26 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $3.46 and a two-hundred day simple moving average of $3.40.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The business had revenue of $653.00 million during the quarter, compared to the consensus estimate of $662.48 million. Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. On average, sell-side analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GRAB. Sequoia Financial Advisors LLC raised its holdings in Grab by 9.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock worth $141,000 after purchasing an additional 3,510 shares during the period. Cerity Partners LLC bought a new position in shares of Grab in the fourth quarter worth about $58,000. NewEdge Wealth LLC lifted its position in shares of Grab by 17.1% during the 4th quarter. NewEdge Wealth LLC now owns 124,093 shares of the company’s stock valued at $418,000 after buying an additional 18,094 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Grab by 28.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 259,415 shares of the company’s stock valued at $874,000 after acquiring an additional 56,794 shares during the period. Finally, abrdn plc increased its holdings in Grab by 30.4% in the 4th quarter. abrdn plc now owns 717,794 shares of the company’s stock worth $2,419,000 after acquiring an additional 167,162 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

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.