Grab (NASDAQ:GRAB) Sets New 52-Week High – Time to Buy?

Grab Holdings Limited (NASDAQ:GRAB) shares reached a new 52-week high on Monday . The company traded as high as $4.95 and last traded at $4.95, with a volume of 20587333 shares changing hands. The stock had previously closed at $4.73.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GRAB. Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Barclays lifted their price target on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI boosted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $5.48.

Grab Price Performance

The firm has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $3.64. The company has a market cap of $21.42 billion, a P/E ratio of -273.00 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.

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

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its holdings in Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares in the last quarter. Cohen Capital Management Inc. purchased a new stake in Grab in the 3rd quarter worth approximately $1,723,000. Quadrature Capital Ltd boosted its holdings in Grab by 125.0% in the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after purchasing an additional 590,580 shares during the period. Toronto Dominion Bank grew its position in shares of Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after purchasing an additional 1,555,579 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of Grab by 17.8% in the second quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock worth $3,135,000 after purchasing an additional 133,531 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.