Grab (NASDAQ:GRAB) Given New $5.70 Price Target at JPMorgan Chase & Co.

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

A number of other analysts also recently commented on the stock. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday. Jefferies Financial Group decreased 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 began coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Evercore ISI lifted their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $5.48.

Grab Stock Performance

Shares of NASDAQ:GRAB traded down $0.03 during midday trading on Tuesday, hitting $4.70. The stock had a trading volume of 21,025,111 shares, compared to its average volume of 24,585,615. The stock has a 50 day moving average price of $3.87 and a two-hundred day moving average price of $3.61. The company has a quick ratio of 2.97, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab has a 1 year low of $2.90 and a 1 year high of $4.93.

Grab (NASDAQ:GRAB) last issued its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for 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 in the previous year, the firm earned ($0.02) earnings per share. On average, equities research analysts expect that Grab will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Grab by 18.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after buying an additional 3,163,309 shares during the last quarter. Cohen Capital Management Inc. acquired a new position in shares of Grab in the third quarter valued at approximately $1,723,000. Quadrature Capital Ltd raised its position in shares of Grab by 125.0% in the first quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after buying an additional 590,580 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Grab by 43.4% in the second quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after buying an additional 1,555,579 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position 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 valued at $3,135,000 after buying an additional 133,531 shares during the last quarter. Institutional investors and hedge funds 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.