Grab (NASDAQ:GRAB) Shares Up 3.2% – Time to Buy?

Grab Holdings Limited (NASDAQ:GRAB) shares traded up 3.2% on Tuesday . The stock traded as high as $5.15 and last traded at $5.15. 11,014,488 shares traded hands during trading, a decline of 56% from the average session volume of 24,841,000 shares. The stock had previously closed at $4.99.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GRAB. Barclays raised their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Evercore ISI upped their price objective on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Mizuho upped their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $5.48.

Grab Stock Performance

The stock has a market cap of $21.54 billion, a PE ratio of -266.00 and a beta of 0.81. 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 has a fifty day moving average price of $3.93 and a 200 day moving average price of $3.63.

Grab (NASDAQ:GRAB) last released its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period last year, the company posted ($0.02) EPS. Research analysts forecast that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds have recently made changes to their positions in GRAB. Wellington Management Group LLP increased its holdings in Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Grab during the 2nd quarter worth approximately $166,587,000. Coronation Fund Managers Ltd. boosted its position in Grab by 29.7% during the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after acquiring an additional 10,410,574 shares during the last quarter. State Street Corp boosted its position in Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after acquiring an additional 967,233 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after acquiring an additional 8,635,310 shares during the last quarter. 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.