Grab (NASDAQ:GRAB) Given New $6.00 Price Target at Mizuho

Grab (NASDAQ:GRAB) had its price objective upped by equities research analysts at Mizuho from $5.00 to $6.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 26.85% from the stock’s current price.

Several other research firms also recently commented on GRAB. JPMorgan Chase & Co. raised their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday. Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday. Finally, Evercore ISI lifted their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.48.

Grab Stock Down 3.3 %

Shares of NASDAQ GRAB opened at $4.73 on Wednesday. Grab has a 12-month low of $2.90 and a 12-month high of $4.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.70. The firm has a 50 day moving average of $3.87 and a 200 day moving average of $3.61.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. Sell-side analysts expect that Grab will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Institutional investors have recently bought and sold shares of the business. Erste Asset Management GmbH bought a new stake in shares of Grab in the 3rd quarter worth about $962,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Grab by 3.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 8,605,519 shares of the company’s stock worth $32,701,000 after acquiring an additional 299,354 shares during the last quarter. Maverick Capital Ltd. increased its stake in Grab by 25.4% during the third quarter. Maverick Capital Ltd. now owns 552,692 shares of the company’s stock worth $2,100,000 after acquiring an additional 112,107 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Grab by 179.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after purchasing an additional 8,004,912 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Grab by 24.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,095,005 shares of the company’s stock valued at $4,161,000 after purchasing an additional 211,800 shares during the last quarter. Institutional investors 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.