JPMorgan Chase & Co. Raises Grab (NASDAQ:GRAB) Price Target to $5.70

Grab (NASDAQ:GRAB) had its price objective raised by JPMorgan Chase & Co. from $5.00 to $5.70 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on GRAB. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday. 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. Jefferies Financial Group decreased their price target on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $5.48.

Grab Price Performance

Shares of GRAB opened at $4.73 on Tuesday. The stock has a market capitalization of $18.56 billion, a price-to-earnings ratio of -236.50 and a beta of 0.81. Grab has a 1 year low of $2.90 and a 1 year high of $4.93. The business’s 50 day simple moving average is $3.90 and its 200-day simple moving average is $3.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned ($0.02) EPS. As a group, equities analysts expect that Grab will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Several hedge funds have recently bought and sold shares of the business. M&T Bank Corp grew its position in Grab by 1.7% in the 3rd quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock valued at $1,274,000 after acquiring an additional 5,545 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Grab in the 3rd quarter valued at $696,000. Nomura Asset Management Co. Ltd. grew its position in Grab by 1.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 583,500 shares of the company’s stock valued at $2,217,000 after acquiring an additional 9,600 shares during the last quarter. XTX Topco Ltd grew its position in Grab by 265.5% in the 3rd quarter. XTX Topco Ltd now owns 112,274 shares of the company’s stock valued at $427,000 after acquiring an additional 81,558 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Company Profile

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.