Barclays Increases Grab (NASDAQ:GRAB) Price Target to $6.50

Grab (NASDAQ:GRAB) had its target price boosted by Barclays from $5.50 to $6.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 32.65% from the company’s current price.

Other research analysts also recently issued reports about the stock. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and decreased their price objective for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Daiwa Capital Markets initiated coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Performance

NASDAQ GRAB opened at $4.90 on Thursday. The company has a 50-day simple moving average of $4.76 and a two-hundred day simple moving average of $4.28. Grab has a 12-month low of $2.98 and a 12-month high of $5.72. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of -245.00, a PEG ratio of 2.23 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. On average, equities analysts forecast that Grab will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in Grab during the fourth quarter valued at $25,000. Campbell Capital Management Inc. bought a new position in shares of Grab in the 4th quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in Grab during the 4th quarter valued at about $30,000. TD Private Client Wealth LLC boosted its stake in Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock worth $38,000 after acquiring an additional 7,890 shares in the last quarter. Finally, Allianz SE purchased a new stake in Grab in the fourth quarter worth about $44,000. 55.52% of the stock is owned by hedge funds and other 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.