Grab (NASDAQ:GRAB) Stock Rating Lowered by Hsbc Global Res

Key Points

• Grab Holdings has been downgraded from a "strong-buy" to a "hold" rating by Hsbc Global Res, reflecting a cautious outlook on the stock.
• The current price target for Grab shares is set at $6.20, with an average consensus target price of $5.90 based on analysts' ratings.
• Institutional investors have shown significant interest, with some increasing their stakes by over 400% in recent months.

Grab (NASDAQ:GRAB - Get Free Report) was downgraded by stock analysts at Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, HSBC reaffirmed a "hold" rating and set a $6.20 price target on shares of Grab in a report on Wednesday, September 17th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.90.

Grab Price Performance

Shares of Grab stock traded up $0.06 on Wednesday, reaching $6.45. 96,170,339 shares of the stock were exchanged, compared to its average volume of 52,382,752. The firm's 50 day moving average is $5.27 and its 200-day moving average is $4.86. Grab has a one year low of $3.36 and a one year high of $6.58. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.88. The firm has a market cap of $25.97 billion, a PE ratio of 161.29 and a beta of 0.84.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. Grab had a net margin of 3.65% and a return on equity of 1.75%. The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.41 million. Grab has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Grab will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of hedge funds have recently bought and sold shares of the company. Pitcairn Co. raised its stake in Grab by 11.0% during the second quarter. Pitcairn Co. now owns 20,964 shares of the company's stock worth $105,000 after buying an additional 2,080 shares during the last quarter. J2 Capital Management Inc raised its stake in Grab by 21.5% during the second quarter. J2 Capital Management Inc now owns 12,189 shares of the company's stock worth $61,000 after buying an additional 2,155 shares during the last quarter. Sowell Financial Services LLC raised its stake in Grab by 18.8% during the second quarter. Sowell Financial Services LLC now owns 13,953 shares of the company's stock worth $70,000 after buying an additional 2,206 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Grab by 7.7% during the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company's stock worth $161,000 after buying an additional 2,300 shares during the last quarter. Finally, Soros Fund Management LLC raised its stake in Grab by 19.7% during the second quarter. Soros Fund Management LLC now owns 14,677 shares of the company's stock worth $74,000 after buying an additional 2,419 shares during the last quarter. 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.