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

Grab Holdings Limited (NASDAQ:GRAB)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.90, but opened at $5.30. Grab shares last traded at $5.34, with a volume of 43,472,530 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GRAB shares. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a research report on Thursday, November 21st. JPMorgan Chase & Co. lowered shares of Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Daiwa Capital Markets began 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. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.54.

Grab Price Performance

The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of -264.25, a PEG ratio of 1.95 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 has a 50 day moving average price of $4.78 and a 200 day moving average price of $4.26.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Ellevest Inc. boosted its stake in shares of Grab by 3.3% in the 4th quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock valued at $391,000 after purchasing an additional 2,636 shares during the last quarter. Empowered Funds LLC lifted its holdings in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after buying an additional 3,147 shares during the period. Blue Trust Inc. boosted its stake 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 acquiring an additional 3,408 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Grab by 13.9% during the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock worth $135,000 after acquiring an additional 3,500 shares during the period. Finally, Wedbush Securities Inc. raised its position in shares of Grab by 19.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock valued at $103,000 after acquiring an additional 3,500 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

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.