JPMorgan Chase & Co. Increases Grab (NASDAQ:GRAB) Price Target to $5.70

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

A number of other equities research analysts have also recently weighed in on the company. Evercore ISI upped their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday. Daiwa Capital Markets assumed coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday. Finally, Jefferies Financial Group dropped their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab currently has an average rating of “Buy” and an average price target of $5.48.

Grab Stock Performance

NASDAQ:GRAB opened at $4.89 on Tuesday. Grab has a 1 year low of $2.90 and a 1 year high of $4.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The stock has a fifty day moving average price of $3.84 and a two-hundred day moving average price of $3.60. The stock has a market capitalization of $19.18 billion, a price-to-earnings ratio of -244.50 and a beta of 0.81.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results 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 business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter last year, the firm posted ($0.02) EPS. As a group, sell-side analysts anticipate that Grab will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after acquiring an additional 3,408 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Grab during the 1st quarter worth $32,000. Traynor Capital Management Inc. acquired a new stake in shares of Grab during the third quarter worth $41,000. Sage Rhino Capital LLC purchased a new stake in shares of Grab in the second quarter valued at $38,000. Finally, Glenmede Trust Co. NA acquired a new position in Grab in the third quarter valued at $53,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

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.