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

Grab (NASDAQ:GRAB) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley set a $5.90 price target on Grab in a research note on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Mizuho decreased their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Finally, Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Grab Stock Down 5.3%

NASDAQ:GRAB opened at $3.41 on Tuesday. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 341.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. Grab has a one year low of $3.38 and a one year high of $6.62. The stock has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $4.30. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Sell-side analysts predict that Grab will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $196,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,050,165 shares in the company, valued at $27,636,646.80. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00. Following the completion of the sale, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,118,819 shares of company stock valued at $4,114,677. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Grab

Large investors have recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Grab during the fourth quarter valued at approximately $25,000. Parallel Advisors LLC raised its holdings in shares of Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after buying an additional 4,601 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Grab during the third quarter valued at approximately $38,000. Signaturefd LLC raised its holdings in shares of Grab by 64.6% during the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after buying an additional 6,500 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.