Grab (NASDAQ:GRAB) Shares Gap Up – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.50, but opened at $4.68. Grab shares last traded at $4.58, with a volume of 4,153,015 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GRAB. Mizuho upped their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Barclays upped their price target on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.55.

Grab Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The business’s 50-day moving average price is $4.95 and its 200 day moving average price is $4.07.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. On average, research analysts forecast that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the last quarter. Traynor Capital Management Inc. acquired a new position in Grab in the 3rd quarter valued at about $41,000. Glenmede Trust Co. NA bought a new position in Grab in the 3rd quarter valued at about $53,000. Baldwin Wealth Partners LLC MA acquired a new stake in Grab during the fourth quarter worth approximately $67,000. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Grab by 34.5% during the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after acquiring an additional 4,725 shares during the period. Institutional investors and hedge funds 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.