Grab (NASDAQ:GRAB) Price Target Raised to $5.10

Grab (NASDAQ:GRAB – Free Report) had its price target boosted by JPMorgan Chase & Co. from $4.80 to $5.10 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Zacks Research raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Barclays dropped their price target on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. KeyCorp set a $7.00 price objective on Grab in a report on Wednesday, September 16th. Benchmark reiterated a “buy” rating on shares of Grab in a report on Tuesday, August 4th. Finally, Weiss Ratings lowered Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.67.

Read Our Latest Stock Analysis on Grab

Grab Trading Up 3.6%

Shares of GRAB opened at $3.48 on Tuesday. The firm’s 50 day simple moving average is $3.07 and its 200 day simple moving average is $3.61. The company has a market capitalization of $14.26 billion, a P/E ratio of 69.61, a P/E/G ratio of 0.71 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.38 and a quick ratio of 1.51. Grab has a 1-year low of $2.67 and a 1-year high of $6.24.

Grab (NASDAQ:GRAB – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a net margin of 14.76% and a return on equity of 8.45%. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Sell-side analysts forecast that Grab will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Grab

In other news, insider Wolfgang Kandal sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $3.00, for a total transaction of $90,000.00. Following the transaction, the insider directly owned 3,928,735 shares of the company’s stock, valued at approximately $11,786,205. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate acquired 299,571 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was bought at an average price of $2.89 per share, for a total transaction of $865,760.19. Following the acquisition, the chief operating officer owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. This trade represents a 4.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 899,349 shares of company stock valued at $3,089,155. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Grab

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Montag A & Associates Inc. purchased a new position in shares of Grab during the first quarter valued at about $27,000. Fermata Advisors LLC bought a new position in Grab in the third quarter worth about $31,000. MLP3 LLC purchased a new stake in Grab in the third quarter worth about $31,000. Strategic Global Advisors LLC purchased a new stake in Grab in the second quarter worth about $41,000. Finally, NewEdge Wealth LLC purchased a new stake in Grab in the first quarter worth about $42,000. Institutional investors own 55.52% of the company’s stock.

More Grab News

Here are the key news stories impacting Grab this week:

About Grab

(Get Free Report)

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.

Further Reading

Analyst Recommendations for Grab (NASDAQ:GRAB)

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