Hsbc Global Res Downgrades Grab (NASDAQ:GRAB) to Hold

Hsbc Global Res lowered shares of Grab (NASDAQ:GRAB) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other brokerages have also commented on GRAB. HSBC lowered Grab from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $4.25 to $5.50 in a report on Thursday. Bank of America lowered Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price for the company. in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Finally, Barclays upped their target price on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.53.

Grab Trading Down 1.3 %

Shares of Grab stock opened at $5.24 on Thursday. Grab has a 52-week low of $2.90 and a 52-week high of $5.72. The stock’s 50-day simple moving average is $4.34 and its 200 day simple moving average is $3.77. The stock has a market capitalization of $21.10 billion, a P/E ratio of -262.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. As a group, research analysts anticipate that Grab will post -0.03 EPS for the current year.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Grab by 4,311.8% during the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after acquiring an additional 435,014 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Grab by 20.2% during the third quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company’s stock valued at $23,457,000 after acquiring an additional 1,035,269 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Grab by 2.9% during the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after acquiring an additional 591,898 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Grab by 1.7% during the third quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock valued at $1,274,000 after acquiring an additional 5,545 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Grab in the third quarter worth $696,000. Institutional investors 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.