Grab (NASDAQ:GRAB – Get Free Report) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $5.00 to $5.70 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 19.25% from the stock’s previous close.
A number of other equities analysts also recently weighed in on GRAB. Jefferies Financial Group lowered their price target on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. Daiwa Capital Markets initiated coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Tuesday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $5.28.
View Our Latest Research Report on GRAB
Grab Stock Up 9.1 %
Grab (NASDAQ:GRAB – Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. Sell-side analysts predict that Grab will post -0.04 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Grab
Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after acquiring an additional 3,163,309 shares in the last quarter. Cohen Capital Management Inc. bought a new stake in Grab during the third quarter worth about $1,723,000. Quadrature Capital Ltd grew its stake in Grab by 125.0% during the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock worth $3,348,000 after buying an additional 590,580 shares in the last quarter. Toronto Dominion Bank increased its holdings in Grab by 43.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after buying an additional 1,555,579 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Grab by 17.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock worth $3,135,000 after acquiring an additional 133,531 shares during the period. 55.52% of the stock is currently 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.
Further Reading
- Five stocks we like better than Grab
- What to Know About Investing in Penny Stocks
- Home Depot Stock: Targeting 12% in 2024 and 25% More in 2025
- What Is WallStreetBets and What Stocks Are They Targeting?
- Is Tesla’s Valuation a Bubble or Backed by Real Growth?
- Biggest Stock Losers – Today’s Biggest Percentage Decliners
- Trucking Stocks Led the Pack Last Week: Can They Keep Rolling?
Receive News & Ratings for Grab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grab and related companies with MarketBeat.com's FREE daily email newsletter.