Evercore ISI Forecasts Strong Price Appreciation for Grab (NASDAQ:GRAB) Stock

Grab (NASDAQ:GRAB) had its price target boosted by research analysts at Evercore ISI from $7.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 63.60% from the company’s current price.

GRAB has been the subject of a number of other reports. Jefferies Financial Group decreased their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Grab presently has a consensus rating of “Buy” and a consensus price target of $5.48.

Grab Price Performance

GRAB opened at $4.89 on Tuesday. The company has a market capitalization of $19.18 billion, a PE ratio of -244.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.93. The business has a 50-day moving average of $3.84 and a 200-day moving average of $3.60.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates 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 firm earned ($0.02) earnings per share. Equities research analysts forecast that Grab will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Large investors have recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC bought a new position in Grab in the 1st quarter worth approximately $32,000. Blue Trust Inc. grew its stake in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after acquiring an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC bought a new position in Grab during the second quarter worth $38,000. Traynor Capital Management Inc. acquired a new position in Grab during the 3rd quarter valued at $41,000. Finally, Prospect Financial Services LLC bought a new stake in Grab in the 2nd quarter valued at $53,000. 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.