Grab (NASDAQ:GRAB) Upgraded to “Strong-Buy” at Hsbc Global Res

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

A number of other equities research analysts have also recently commented on GRAB. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. Benchmark increased their price objective on Grab from $6.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Mizuho set a $7.00 price objective on Grab in a research report on Tuesday, November 4th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a report on Friday. Finally, Wall Street Zen downgraded shares of Grab from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Grab currently has an average rating of “Buy” and an average price target of $6.58.

Grab Stock Down 0.2%

Grab stock opened at $4.38 on Friday. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05. The firm has a market cap of $17.64 billion, a P/E ratio of 109.53 and a beta of 0.90. The business has a fifty day moving average of $5.14 and a two-hundred day moving average of $5.36. Grab has a twelve month low of $3.36 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $870.44 million. Grab had a return on equity of 1.91% and a net margin of 3.81%. On average, analysts forecast that Grab will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Institutional investors and hedge funds have recently modified their holdings of the company. AlphaCore Capital LLC acquired a new position in Grab in the 2nd quarter worth approximately $33,000. Advisory Services Network LLC acquired a new stake in shares of Grab in the third quarter worth $38,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Grab by 51.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock worth $39,000 after purchasing an additional 2,634 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Allworth Financial LP lifted its position in Grab by 70.9% during the third quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after purchasing an additional 3,354 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.