Grab (NASDAQ:GRAB) Shares Down 5.9% – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB)’s share price dropped 5.9% during mid-day trading on Thursday . The stock traded as low as $4.34 and last traded at $4.3550. Approximately 55,340,584 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 47,837,180 shares. The stock had previously closed at $4.63.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GRAB shares. Mizuho set a $7.00 target price on shares of Grab in a report on Tuesday, November 4th. Jefferies Financial Group restated a “buy” rating and set a $7.00 price objective on shares of Grab in a research note on Tuesday, November 4th. Barclays upped their target price on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Friday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $6.58.

Grab Trading Down 0.2%

The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $5.14 and a two-hundred day simple moving average of $5.36. The stock has a market cap of $17.64 billion, a price-to-earnings ratio of 109.53 and a beta of 0.90.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, November 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Grab

Institutional investors have recently modified their holdings of the stock. AlphaCore Capital LLC acquired a new stake in Grab during the second quarter worth about $33,000. Advisory Services Network LLC acquired a new stake in Grab in the third quarter worth about $38,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Grab by 51.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock valued at $39,000 after acquiring an additional 2,634 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Grab by 162,500.0% in the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after buying an additional 6,500 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Grab by 70.9% during the 3rd quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after purchasing an additional 3,354 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.