Grab (NASDAQ:GRAB) Trading 6.2% Higher

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report)'s share price was up 6.2% during mid-day trading on Thursday . The company traded as high as $3.42 and last traded at $3.41. Approximately 25,236,810 shares traded hands during trading, an increase of 7% from the average daily volume of 23,483,029 shares. The stock had previously closed at $3.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GRAB shares. HSBC reiterated a "buy" rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Barclays reduced their price objective on shares of Grab from $4.50 to $4.30 and set an "overweight" rating on the stock in a report on Monday, February 5th. Finally, JPMorgan Chase & Co. upgraded shares of Grab from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab currently has a consensus rating of "Buy" and an average price target of $5.10.

Grab Trading Up 5.6 %

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's fifty day moving average price is $3.24 and its two-hundred day moving average price is $3.23. The firm has a market cap of $13.30 billion, a PE ratio of -33.90 and a beta of 0.91.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The firm had revenue of $653.00 million during the quarter, compared to analysts' expectations of $633.82 million. During the same quarter last year, the business earned ($0.10) earnings per share. The business's revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Grab Holdings Limited will post 0.01 earnings per share 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. Kore Private Wealth LLC acquired a new position in Grab during the second quarter worth about $29,000. Miracle Mile Advisors LLC acquired a new position in shares of Grab in the first quarter valued at approximately $32,000. Stifel Financial Corp acquired a new position in shares of Grab in the first quarter valued at approximately $33,000. US Bancorp DE raised its position in shares of Grab by 56.1% in the fourth quarter. US Bancorp DE now owns 10,236 shares of the company's stock valued at $34,000 after buying an additional 3,679 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Grab in the third quarter valued at approximately $35,000. Institutional investors and hedge funds 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.