Grab (NASDAQ:GRAB) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of Grab (NASDAQ:GRAB - Get Free Report) in a research report issued to clients and investors on Friday, StockNewsAPI reports. The brokerage set a "buy" rating and a $4.50 price target on the stock. Deutsche Bank Aktiengesellschaft's price objective would suggest a potential upside of 20.97% from the stock's current price.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. raised 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 report on Thursday, January 18th. Benchmark reissued a "buy" rating and set a $6.00 target price on shares of Grab in a research report on Thursday. HSBC reiterated a "buy" rating and issued a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Finally, Barclays cut their price target on Grab from $4.50 to $4.30 and set an "overweight" rating for the company in a research note on Monday, February 5th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $5.01.

Grab Price Performance

NASDAQ:GRAB traded up $0.07 during mid-day trading on Friday, reaching $3.72. 27,331,319 shares of the company were exchanged, compared to its average volume of 24,038,791. The stock has a market cap of $14.59 billion, a PE ratio of -52.14 and a beta of 0.81. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $3.34 and a 200 day moving average of $3.25. Grab has a 12 month low of $2.67 and a 12 month high of $3.92.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.03. Grab had a negative return on equity of 4.61% and a negative net margin of 11.86%. The company had revenue of $653.00 million for the quarter, compared to the consensus estimate of $633.82 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The firm's quarterly revenue was up 30.1% on a year-over-year basis. On average, research analysts anticipate that Grab will post 0.01 EPS for the current fiscal year.

Institutional Trading of Grab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Grab during the fourth quarter valued at $146,995,000. Barclays PLC grew its stake in shares of Grab by 21,204.4% during the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company's stock valued at $132,048,000 after acquiring an additional 37,126,838 shares during the period. Coronation Fund Managers Ltd. boosted its position in shares of Grab by 116.3% in the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company's stock worth $110,032,000 after purchasing an additional 18,839,407 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of Grab during the 1st quarter valued at $52,920,000. Finally, Ward Ferry Management BVI Ltd purchased a new stake in Grab in the 3rd quarter worth $56,614,000. 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.