Grab (NASDAQ:GRAB) Rating Lowered to Hold at China Renaissance

Grab (NASDAQ:GRAB) was downgraded by analysts at China Renaissance from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They presently have a $5.40 price target on the stock. China Renaissance’s target price would suggest a potential downside of 4.59% from the stock’s previous close.

GRAB has been the topic of several other research reports. JPMorgan Chase & Co. raised their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Evercore ISI boosted their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Mizuho increased their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets began coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Finally, Barclays increased their target price on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.47.

Grab Trading Up 3.7 %

GRAB stock opened at $5.66 on Thursday. The company has a market capitalization of $22.20 billion, a PE ratio of -283.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab has a 12 month low of $2.90 and a 12 month high of $5.67. The firm’s 50-day moving average is $4.02 and its 200 day moving average is $3.65.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates 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 business earned ($0.02) earnings per share. On average, research analysts anticipate that Grab will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GRAB. 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 position in shares of Grab during the 2nd 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. Dorsey & Whitney Trust CO LLC increased its position in Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after purchasing an additional 3,795 shares during the last quarter. Finally, Prospect Financial Services LLC purchased a new position in Grab during the second quarter worth about $53,000. 55.52% of the stock is 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.