Barclays Increases Grab (NASDAQ:GRAB) Price Target to $4.70

Grab (NASDAQ:GRAB) had its target price hoisted by Barclays from $4.30 to $4.70 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft began coverage on Grab in a research note on Friday, May 17th. They set a buy rating and a $4.50 price target on the stock. Benchmark reiterated a buy rating and set a $6.00 target price on shares of Grab in a research report on Thursday, May 16th. Finally, HSBC restated a buy rating and issued a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab has an average rating of Buy and an average price target of $5.07.

Grab Trading Down 0.3 %

Shares of Grab stock opened at $3.66 on Wednesday. The firm has a market capitalization of $14.36 billion, a PE ratio of -52.28 and a beta of 0.81. The company has a current ratio of 3.26, a quick ratio of 3.87 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $3.40 and its 200 day moving average is $3.27. Grab has a 1 year low of $2.85 and a 1 year high of $3.92.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $633.82 million. During the same period in the prior year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts forecast that Grab will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GRAB. Lake Street Advisors Group LLC increased its position in shares of Grab by 0.4% during the third quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock worth $2,465,000 after buying an additional 2,972 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Grab by 9.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock worth $141,000 after acquiring an additional 3,510 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Grab by 9.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock valued at $148,000 after purchasing an additional 3,632 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Grab by 0.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Grab by 1.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 301,543 shares of the company’s stock worth $1,067,000 after purchasing an additional 5,003 shares during the period. 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.