Grab (NASDAQ:GRAB) Given New $5.90 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Grab to $5.90 from $6.10 but kept an "overweight" rating, implying roughly a 39.6% upside from the current stock price.
• Analysts hold a consensus "Buy" with a mean target of $6.56; Grab traded around $4.23 (market cap ≈ $17.3B) after reporting an EPS beat but slightly missing revenue expectations.
• Significant insider selling has occurred recently—CEO sold 400,000 shares and insiders sold 552,819 shares in the last three months, leaving insiders with about 3.6% ownership.

Grab (NASDAQ:GRAB - Get Free Report) had its target price cut by stock analysts at JPMorgan Chase & Co. from $6.10 to $5.90 in a report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 39.64% from the stock's current price.

GRAB has been the topic of several other reports. Wall Street Zen raised shares of Grab from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Benchmark reissued a "buy" rating on shares of Grab in a research note on Thursday, February 12th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $5.80 price target on shares of Grab in a report on Monday, January 26th. HSBC raised Grab from a "hold" rating to a "buy" rating and set a $6.20 price objective for the company in a report on Friday, January 16th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Grab in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Grab has a consensus rating of "Buy" and a consensus target price of $6.56.

Grab Price Performance

GRAB stock traded up $0.02 during midday trading on Monday, reaching $4.23. 35,602,737 shares of the company's stock traded hands, compared to its average volume of 50,502,926. The company has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $4.78. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Grab has a 1-year low of $3.48 and a 1-year high of $6.62. The company has a market cap of $17.31 billion, a price-to-earnings ratio of 140.88, a PEG ratio of 1.00 and a beta of 0.99.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to analysts' expectations of $942.08 million. Grab had a return on equity of 4.09% and a net margin of 7.92%. On average, analysts anticipate that Grab will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $117,600.00. Following the sale, the insider directly owned 4,145,430 shares in the company, valued at $16,250,085.60. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3.68, for a total transaction of $1,472,000.00. Following the completion of the transaction, the chief executive officer directly owned 425,193 shares of the company's stock, valued at approximately $1,564,710.24. The trade was a 48.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 552,819 shares of company stock valued at $2,056,657. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Grab

Hedge funds have recently made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Grab in the fourth quarter valued at $25,000. Parallel Advisors LLC lifted its holdings in Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock valued at $30,000 after purchasing an additional 4,601 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company's stock worth $32,000 after buying an additional 2,543 shares during the last quarter. Advocate Investing Services LLC bought a new position in Grab in the 4th quarter valued at about $35,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Grab by 128.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company's stock worth $38,000 after acquiring an additional 4,225 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing "super app" across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.

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