Grab (NASDAQ:GRAB) Price Target Raised to $5.70

Grab (NASDAQ:GRAB) had its price objective raised by JPMorgan Chase & Co. from $5.00 to $5.70 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also weighed in on GRAB. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a research note on Tuesday. Finally, Evercore ISI lifted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab has an average rating of “Buy” and an average price target of $5.48.

Grab Trading Down 0.6 %

Shares of GRAB traded down $0.03 during midday trading on Tuesday, reaching $4.70. The stock had a trading volume of 21,025,111 shares, compared to its average volume of 24,585,615. Grab has a 1-year low of $2.90 and a 1-year high of $4.93. The company’s fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $3.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data 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 business earned ($0.02) EPS. As a group, research analysts anticipate that Grab will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its position in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in Grab during the 1st quarter worth $32,000. Traynor Capital Management Inc. purchased a new position in Grab during the 3rd quarter worth $41,000. Sage Rhino Capital LLC purchased a new position in Grab during the 2nd quarter worth $38,000. Finally, Glenmede Trust Co. NA purchased a new position in Grab during the 3rd quarter worth $53,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

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.