Grab (NASDAQ:GRAB) Rating Increased to Strong-Buy at Hsbc Global Res

Grab (NASDAQ:GRAB) was upgraded by Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research firms have also issued reports on GRAB. Benchmark raised their target price on Grab from $6.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Grab from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 target price for the company in a research note on Friday. Finally, Mizuho set a $7.00 price objective on shares of Grab in a report on Tuesday, November 4th. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $6.58.

Grab Stock Performance

Shares of GRAB opened at $4.38 on Friday. The company has a market capitalization of $17.64 billion, a PE ratio of 109.53 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81. Grab has a one year low of $3.36 and a one year high of $6.62. The company’s fifty day moving average price is $5.14 and its 200 day moving average price is $5.36.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The business had revenue of $873.00 million during the quarter, compared to analyst estimates of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. As a group, analysts expect that Grab will post 0.05 earnings per share for the current year.

Institutional Trading of Grab

Hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its position in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after buying an additional 15,916,063 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Grab by 20.8% during the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock worth $304,092,000 after buying an additional 10,428,014 shares during the last quarter. State Street Corp grew its position in shares of Grab by 1.8% during the 2nd quarter. State Street Corp now owns 43,322,397 shares of the company’s stock worth $217,912,000 after buying an additional 759,696 shares during the period. Artisan Partners Limited Partnership increased its stake in shares of Grab by 13.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock valued at $200,422,000 after acquiring an additional 4,710,420 shares during the last quarter. Finally, Norges Bank bought a new position in Grab during the 2nd quarter worth approximately $175,192,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

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.