Grab (NASDAQ:GRAB) Stock Rating Updated by Zacks Investment Research


Grab (NASDAQ:GRAB – Get a Note) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note released Friday to investors, Zacks.com reports.

According to Zacks, “Grab Holdings Limited offers great application in each of the food delivery, mobility and e-wallet segments of financial services. It mainly operates in Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Grab Holdings Limited, formerly known as Altimeter Growth Corp., is based in MENLO PARK, California. “

Other research analysts have also released reports on the stock. DBS Vickers downgraded Grab’s shares from a “buy” rating to a “hold” rating and set a target price of $5.60 for the company. in a research note on Thursday, February 24. JPMorgan Chase & Co. downgraded shares of Grab from an ‘overweight’ rating to a ‘neutral’ rating and cut its target price for the company from $12.50 to $5.70 in a Thursday research note February 24. Goldman Sachs Group issued coverage on Grab shares in a research note on Thursday, January 27. They set a “buy” rating and a target price of $7.90 for the company. HSBC cut its target price on Grab shares from $7.50 to $4.75 and set a “buy” rating for the company in a research note on Monday. Finally, Sanford C. Bernstein launched a hedge on Grab’s stock in a research note on Tuesday, April 19. They set a “market performance” rating for the company. One equity research analyst gave the stock a sell rating, five gave the stock a hold rating and seven gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $6.84.

NASDAQ:GRAB shares traded at $0.09 during Friday’s trading, hitting $2.41. 54,979,740 shares of the company have been traded, compared to its average volume of 24,803,373. The company has a quick ratio of 8.45, a current ratio of 8.46 and a leverage ratio of 0.25 . Grab has a 12-month low of $2.26 and a 12-month high of $13.29. The company’s 50-day moving average is $3.12.

Hedge funds have recently increased or reduced their holdings in the stock. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Grab during the fourth quarter valued at approximately $64,000. Marathon Trading Investment Management LLC acquired a new stake in Grab during the fourth quarter worth approximately $71,000. Arena Capital Advisors LLC CA acquired a new stake in Grab during the first quarter worth approximately $35,000. Stephens Inc. AR acquired a new stake in Grab during the fourth quarter worth approximately $81,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Grab during the first quarter valued at approximately $40,000. 46.25% of the shares are held by institutional investors and hedge funds.

About Grab (Get a rating)

Grab Holdings Limited operates a transportation and financial technology platform in Southeast Asia. It offers a range of services, including mobility, food, parcel and grocery delivery services, mobile payments and financial services. The company was founded in 2012 and is based in Singapore.

See also

Get a Free Copy of Zacks Research Report on Grab (GRAB)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Analyst Recommendations for Grab (NASDAQ: GRAB)



Get news and reviews for Grab Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Grab and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.