Grab (NASDAQ:GRAB) Rating Lowered to “Hold” at Zacks Research

Grab (NASDAQ:GRAB – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday, Zacks reports.

Several other analysts also recently issued reports on GRAB. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. KeyCorp set a $7.00 price objective on Grab in a research note on Wednesday, September 16th. JPMorgan Chase & Co. raised their price objective on Grab from $4.80 to $5.10 and gave the company an “overweight” rating in a research note on Tuesday. Barclays reduced their target price on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.

Get Our Latest Research Report on Grab

Grab Stock Up 3.6%

GRAB stock opened at $3.48 on Wednesday. The firm has a market cap of $14.26 billion, a PE ratio of 69.61, a PEG ratio of 0.71 and a beta of 0.83. Grab has a 1 year low of $2.67 and a 1 year high of $6.24. The company has a fifty day simple moving average of $3.07 and a 200 day simple moving average of $3.61. The company has a current ratio of 1.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. Grab had a net margin of 14.76% and a return on equity of 8.45%. The firm had revenue of $997.00 million for the quarter, compared to the consensus estimate of $994.97 million. Sell-side analysts anticipate that Grab will post 0.13 EPS for the current fiscal year.

Insider Activity

In other Grab news, insider Chin Ong sold 38,000 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $3.09, for a total transaction of $117,420.00. Following the completion of the sale, the insider directly owned 3,594,611 shares in the company, valued at $11,107,347.99. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate purchased 299,571 shares of the stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $2.89 per share, for a total transaction of $865,760.19. Following the completion of the transaction, the chief operating officer owned 6,411,550 shares of the company’s stock, valued at $18,529,379.50. The trade was a 4.90% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 899,349 shares of company stock worth $3,089,155 in the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Grab by 6.4% during the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after buying an additional 9,357,389 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in shares of Grab by 74.5% in the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after buying an additional 13,919,053 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Grab by 13.4% in the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock valued at $91,572,000 after buying an additional 2,867,458 shares during the period. Bank of America Corp DE lifted its stake in shares of Grab by 80.2% in the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after buying an additional 10,681,810 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Grab by 16.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock worth $68,200,000 after buying an additional 2,486,750 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Key Grab News

Here are the key news stories impacting Grab this week:

About Grab

(Get Free Report)

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.

Further Reading

Analyst Recommendations for Grab (NASDAQ:GRAB)

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