Grab (NASDAQ:GRAB) Shares Gap Up – Still a Buy?

Grab Holdings Limited (NASDAQ:GRAB)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $4.54, but opened at $4.98. Grab shares last traded at $5.08, with a volume of 21,400,892 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GRAB. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and dropped their target price for the company from $5.50 to $5.45 in a research report on Tuesday. Barclays lifted their price objective on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and increased their target price for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Mizuho increased their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $4.15. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of -228.00, a PEG ratio of 1.91 and a beta of 0.90.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company 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 period in the previous year, the business posted ($0.02) EPS. On average, analysts expect that Grab Holdings Limited will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new position in shares of Grab during the 4th quarter worth $30,000. Blue Trust Inc. lifted its position in Grab by 53.6% in 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 last quarter. New York Life Investment Management LLC purchased a new position in Grab during the fourth quarter worth about $48,000. SeaBridge Investment Advisors LLC purchased a new position in Grab during the fourth quarter worth about $48,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Grab during the fourth quarter valued at about $49,000. 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.