Grab (NASDAQ:GRAB) Trading Up 6.2%

Grab Holdings Limited (NASDAQ:GRAB)’s share price traded up 6.2% during trading on Thursday . The company traded as high as $3.42 and last traded at $3.41. 25,236,810 shares were traded during trading, an increase of 7% from the average session volume of 23,483,029 shares. The stock had previously closed at $3.21.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GRAB. HSBC restated a “buy” rating and issued a $4.30 target price on shares of Grab in a report on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Finally, Barclays cut their price target on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a report on Monday, February 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $5.10.

Grab Stock Performance

The stock’s 50-day simple moving average is $3.24 and its 200 day simple moving average is $3.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. As a group, analysts predict that Grab Holdings Limited will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently modified their holdings of GRAB. BlackRock Inc. purchased a new stake in Grab during the first quarter worth about $161,045,000. Norges Bank purchased a new stake in Grab during the 4th quarter worth approximately $146,995,000. Barclays PLC lifted its holdings in Grab by 21,204.4% during the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock worth $132,048,000 after buying an additional 37,126,838 shares in the last quarter. Capital Research Global Investors boosted its position in Grab by 50.9% in the 1st quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock valued at $379,128,000 after buying an additional 36,542,740 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Grab during the first quarter worth $52,920,000. Hedge funds and other 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.