Grab (NASDAQ:GRAB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Grab (NASDAQ:GRAB) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $5.00 to $5.70 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.56% from the company’s previous close.

GRAB has been the subject of a number of other reports. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Tuesday. Evercore ISI lifted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Jefferies Financial Group reduced their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.48.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.89 on Tuesday. Grab has a 52 week low of $2.90 and a 52 week high of $4.93. The company’s 50 day moving average is $3.84 and its two-hundred day moving average is $3.60. The company has a market cap of $19.18 billion, a PE ratio of -244.50 and a beta of 0.81. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 EPS 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 return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Equities analysts predict that Grab will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Grab during the 3rd quarter worth approximately $22,434,000. Caz Investments LP raised its stake in shares of Grab by 100.0% during the third quarter. Caz Investments LP now owns 3,700,232 shares of the company’s stock worth $13,598,000 after purchasing an additional 1,850,116 shares during the last quarter. Glenmede Trust Co. NA acquired a new stake in shares of Grab during the third quarter worth $53,000. Tree Line Advisors Hong Kong Ltd. purchased a new position in Grab in the 3rd quarter valued at $38,000,000. Finally, Dai ichi Life Insurance Company Ltd increased its stake in Grab by 13.8% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company’s stock valued at $470,000 after buying an additional 15,000 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.