Grab (NASDAQ:GRAB) Shares Gap Up – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $4.50, but opened at $4.68. Grab shares last traded at $4.58, with a volume of 4,153,015 shares changing hands.

Analysts Set New Price Targets

A number of research firms have commented on GRAB. JPMorgan Chase & Co. upped their price target on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Hsbc Global Res downgraded Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Mizuho increased their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.55.

Grab Trading Up 2.1 %

The business’s 50-day moving average price is $4.96 and its 200-day moving average price is $4.06. The firm has a market capitalization of $18.50 billion, a PE ratio of -229.75, a price-to-earnings-growth ratio of 1.77 and a beta of 0.90. 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 (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. As a group, analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in GRAB. Allspring Global Investments Holdings LLC lifted its stake in Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after buying an additional 3,163,309 shares in the last quarter. Tidal Investments LLC raised 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 buying an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Grab during the third quarter valued at approximately $22,434,000. Leibman Financial Services Inc. acquired a new stake in Grab during the fourth quarter worth approximately $937,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Grab in the 3rd quarter worth approximately $2,757,000. 55.52% of the stock is currently owned by hedge funds and other 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.