Grab (NASDAQ:GRAB) Trading Up 3.2% – Still a Buy?

Grab Holdings Limited (NASDAQ:GRAB) was up 3.2% on Tuesday . The company traded as high as $5.15 and last traded at $5.15. Approximately 11,014,488 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 24,841,000 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GRAB shares. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Evercore ISI boosted their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Finally, Barclays boosted their price target on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $5.48.

Grab Price Performance

The company has a market cap of $22.20 billion, a price-to-earnings ratio of -283.00 and a beta of 0.81. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $4.02 and its two-hundred day moving average price is $3.65.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Institutional Trading of Grab

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its position in Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after acquiring an additional 14,671,388 shares in the last quarter. Baillie Gifford & Co. bought a new stake in Grab during the second quarter worth $166,587,000. Coronation Fund Managers Ltd. raised its position in Grab by 29.7% during the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after acquiring an additional 10,410,574 shares in the last quarter. State Street Corp raised its position in Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after acquiring an additional 967,233 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after acquiring an additional 8,635,310 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.