Grab (NASDAQ:GRAB) Sets New 12-Month High – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB) shares hit a new 52-week high on Monday . The stock traded as high as $4.95 and last traded at $4.95, with a volume of 20587333 shares trading hands. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GRAB shares. Barclays lifted their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Daiwa Capital Markets initiated coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $5.48.

Grab Price Performance

The business has a 50 day simple moving average of $3.90 and a two-hundred day simple moving average of $3.62. The firm has a market capitalization of $19.58 billion, a P/E ratio of -236.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same period last year, the company posted ($0.02) EPS. On average, sell-side analysts expect that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Institutional Trading of Grab

A number of large investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Grab by 53.6% during 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 period. Sage Rhino Capital LLC purchased a new stake in Grab during the second quarter valued at $38,000. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the third quarter valued at $41,000. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Grab by 37.0% in 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 bought a new position in Grab during the 2nd quarter worth about $53,000. 55.52% of the stock is currently owned by 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.