Grab (NASDAQ:GRAB) Rating Lowered to Hold at Zacks Research

Grab (NASDAQ:GRAB – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday, Zacks reports.

GRAB has been the subject of a number of other research reports. Benchmark reissued a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Barclays dropped their target price on shares of Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Bank of America reaffirmed a “buy” rating on shares of Grab in a report on Friday, September 25th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Grab has a consensus rating of “Moderate Buy” and an average target price of $5.67.

Read Our Latest Research Report on GRAB

Grab Price Performance

NASDAQ:GRAB opened at $3.48 on Wednesday. The stock has a market capitalization of $14.26 billion, a PE ratio of 69.61, a P/E/G ratio of 0.71 and a beta of 0.83. Grab has a 1-year low of $2.67 and a 1-year high of $6.24. The firm has a fifty day simple moving average of $3.07 and a 200 day simple moving average of $3.61. The company has a current ratio of 1.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Grab had a net margin of 14.76% and a return on equity of 8.45%. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. On average, research analysts expect that Grab will post 0.13 EPS for the current fiscal year.

Insider Activity at Grab

In other Grab news, insider Chin Ong sold 38,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $3.09, for a total value of $117,420.00. Following the transaction, the insider directly owned 3,594,611 shares of the company’s stock, valued at $11,107,347.99. This represents a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate acquired 299,571 shares of the business’s stock in a transaction on Monday, September 21st. The shares were bought at an average price of $2.89 per share, with a total value of $865,760.19. Following the completion of the transaction, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. The trade was a 4.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 899,349 shares of company stock valued at $3,089,155 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after purchasing an additional 9,357,389 shares during the period. Coronation Fund Managers Ltd. grew its holdings in Grab by 74.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after buying an additional 13,919,053 shares in the last quarter. Principal Financial Group Inc. increased its position in Grab by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after buying an additional 2,867,458 shares during the period. Bank of America Corp DE increased its position in Grab by 80.2% during the 1st quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock worth $87,818,000 after buying an additional 10,681,810 shares during the period. Finally, Hsbc Holdings PLC increased its position in Grab by 20.9% during the 2nd quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock worth $67,475,000 after buying an additional 3,090,656 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Key Grab News

Here are the key news stories impacting Grab this week:

Grab Company Profile

(Get Free Report)

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.

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Analyst Recommendations for Grab (NASDAQ:GRAB)

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