Grab (NASDAQ:GRAB) Sets New 1-Year High – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB) hit a new 52-week high during trading on Monday . The stock traded as high as $4.95 and last traded at $4.95, with a volume of 20587333 shares traded. The stock had previously closed at $4.73.

Wall Street Analysts Forecast Growth

GRAB has been the topic of several research analyst reports. Barclays upped their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Mizuho lifted their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets began coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab currently has an average rating of “Buy” and a consensus target price of $5.48.

Grab Trading Up 9.4 %

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 firm has a market cap of $21.42 billion, a PE ratio of -273.00 and a beta of 0.81. The firm has a fifty day simple moving average of $3.97 and a two-hundred day simple moving average of $3.64.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. During the same quarter last year, the firm posted ($0.02) earnings per share. Equities analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current year.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. purchased a new position in Grab during the 3rd quarter valued at about $41,000. Sage Rhino Capital LLC bought a new stake in Grab during the second quarter worth about $38,000. Glenmede Trust Co. NA purchased a new stake in Grab in the third quarter worth about $53,000. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares in the last quarter. 55.52% of the stock is currently 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.