Grab (NASDAQ:GRAB) Shares Gap Up to $3.60

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $3.60, but opened at $3.76. Grab shares last traded at $3.69, with a volume of 17,944,322 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Grab from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $3.60 to $3.80 in a research note on Thursday, January 18th. Barclays reduced their target price on Grab from $4.50 to $4.30 and set an "overweight" rating for the company in a research note on Monday, February 5th. HSBC reaffirmed a "buy" rating and set a $4.30 price target on shares of Grab in a research note on Thursday, April 4th. Finally, Benchmark reissued a "buy" rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $5.10.

Grab Price Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.87 and a current ratio of 3.90. The business has a 50 day simple moving average of $3.34 and a 200-day simple moving average of $3.25. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of -36.50 and a beta of 0.81.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The company had revenue of $653.00 million for the quarter, compared to analysts' expectations of $633.82 million. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. Grab's quarterly revenue was up 30.1% on a year-over-year basis. Equities research analysts expect that Grab Holdings Limited will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Grab

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PFG Investments LLC purchased a new stake in Grab during the first quarter worth about $31,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Grab in the 1st quarter worth approximately $32,000. Miracle Mile Advisors LLC purchased a new position in Grab in the first quarter valued at approximately $32,000. Optas LLC bought a new position in Grab during the fourth quarter valued at $36,000. Finally, Meridian Wealth Partners LLC purchased a new stake in Grab in the fourth quarter worth $36,000. Hedge funds and other institutional investors 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.