Grab (NASDAQ:GRAB) Stock Price Expected to Rise, Evercore ISI Analyst Says

Grab (NASDAQ:GRAB) had its target price boosted by analysts at Evercore ISI from $7.00 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 63.60% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $5.48.

Grab Price Performance

Shares of GRAB stock opened at $4.89 on Tuesday. Grab has a one year low of $2.90 and a one year high of $4.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The stock has a fifty day moving average price of $3.84 and a 200 day moving average price of $3.60. The stock has a market cap of $19.18 billion, a P/E ratio of -244.50 and a beta of 0.81.

Grab (NASDAQ:GRAB) last announced 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 company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the prior year, the company posted ($0.02) EPS. Analysts predict that Grab will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Several institutional investors have recently bought and sold shares of GRAB. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Grab during the first quarter worth $32,000. Blue Trust Inc. lifted its position in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares in the last quarter. Sage Rhino Capital LLC bought a new stake in Grab during the 2nd quarter worth about $38,000. Traynor Capital Management Inc. acquired a new stake in Grab in the 3rd quarter valued at about $41,000. Finally, Prospect Financial Services LLC bought a new position in shares of Grab in the second quarter worth about $53,000. 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.