Grab (NASDAQ:GRAB) Downgraded to “Hold” Rating by HSBC

Grab (NASDAQ:GRAB) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a research report issued on Thursday,Briefing.com Automated Import reports. They currently have a $5.50 price objective on the stock, up from their previous price objective of $4.25. HSBC’s price target points to a potential upside of 5.77% from the company’s previous close.

Several other brokerages have also issued reports on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a report on Thursday, November 21st. Barclays boosted their target price on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Mizuho boosted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $5.53.

Grab Stock Down 2.1 %

NASDAQ GRAB traded down $0.11 during trading on Thursday, reaching $5.20. 3,403,881 shares of the company’s stock were exchanged, compared to its average volume of 25,916,223. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The firm has a market capitalization of $20.94 billion, a PE ratio of -260.00 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $4.34 and its 200-day simple moving average is $3.77.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same period last year, the company posted ($0.02) EPS. Sell-side analysts predict that Grab will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its holdings in Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Grab by 20.2% during the third quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company’s stock worth $23,457,000 after buying an additional 1,035,269 shares during the last quarter. Geode Capital Management LLC grew its holdings in Grab by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock worth $77,414,000 after acquiring an additional 591,898 shares during the period. M&T Bank Corp boosted its position in shares of Grab by 1.7% in the 3rd quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock worth $1,274,000 after purchasing an additional 5,545 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Grab during the third quarter worth $696,000. Institutional investors and hedge funds 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.