Grab (NASDAQ:GRAB) Rating Lowered to Underperform at Bank of America

Grab (NASDAQ:GRAB) was downgraded by equities researchers at Bank of America from a “buy” rating to an “underperform” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They presently have a $4.90 target price on the stock. Bank of America‘s price objective suggests a potential downside of 13.57% from the company’s previous close.

A number of other research analysts have also weighed in on the company. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a report on Thursday. Mizuho boosted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Barclays boosted their target price on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.42.

Grab Trading Up 0.2 %

NASDAQ:GRAB opened at $5.67 on Friday. The firm has a market cap of $22.24 billion, a P/E ratio of -283.46 and a beta of 0.81. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $4.06 and its 200-day simple moving average is $3.67. Grab has a 12-month low of $2.90 and a 12-month high of $5.72.

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 return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Equities analysts anticipate that Grab will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Grab by 18.5% in 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 during the last quarter. Cohen Capital Management Inc. acquired a new stake in Grab in the 3rd quarter valued at approximately $1,723,000. Quadrature Capital Ltd increased its position 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 acquiring an additional 590,580 shares during the period. Toronto Dominion Bank increased its position in Grab by 43.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after acquiring an additional 1,555,579 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after acquiring 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.