Grab (NASDAQ:GRAB) Trading 6.2% Higher

Grab Holdings Limited (NASDAQ:GRAB) shares shot up 6.2% during mid-day trading on Thursday . The company traded as high as $3.42 and last traded at $3.41. 25,236,810 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 23,483,029 shares. The stock had previously closed at $3.21.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GRAB. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and increased their price target for the company from $3.60 to $3.80 in a report on Thursday, January 18th. HSBC reaffirmed a “buy” rating and set a $4.30 price target on shares of Grab in a research note on Thursday, April 4th. Finally, Barclays decreased their price target on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $5.10.

Grab Price Performance

The company’s 50-day moving average is $3.24 and its 200-day moving average is $3.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of -34.00 and a beta of 0.91.

Grab (NASDAQ:GRAB) last released its 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 18.43% and a negative return on equity of 6.77%. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. During the same period last year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 30.1% on a year-over-year basis. On average, research analysts expect that Grab Holdings Limited will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in Grab in the first quarter valued at approximately $52,920,000. Miracle Mile Advisors LLC purchased a new position in Grab in the first quarter valued at approximately $32,000. Optas LLC raised its holdings in Grab by 114.0% in the first quarter. Optas LLC now owns 22,809 shares of the company’s stock valued at $72,000 after buying an additional 12,149 shares during the period. Deltec Asset Management LLC raised its holdings in Grab by 827.6% in the first quarter. Deltec Asset Management LLC now owns 2,272,655 shares of the company’s stock valued at $7,136,000 after buying an additional 2,027,655 shares during the period. Finally, Vanguard Capital Wealth Advisors raised its holdings in Grab by 288.5% in the first quarter. Vanguard Capital Wealth Advisors now owns 224,935 shares of the company’s stock valued at $706,000 after buying an additional 167,035 shares during the period. Hedge funds and other 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.