Grab (NASDAQ:GRAB) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Grab (NASDAQ:GRAB) from a strong sell rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on GRAB. Mizuho decreased their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. JPMorgan Chase & Co. cut their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of Grab in a report on Thursday, February 12th. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, May 6th. Finally, Morgan Stanley set a $5.90 price target on Grab in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Grab Stock Performance

NASDAQ:GRAB opened at $3.41 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. Grab has a 1 year low of $3.38 and a 1 year high of $6.62. The stock’s 50 day simple moving average is $3.71 and its two-hundred day simple moving average is $4.30. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 341.34, a PEG ratio of 1.63 and a beta of 0.89.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The firm had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. As a group, equities analysts anticipate that Grab will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Grab

In related news, CFO Peter Henry Oey sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 7,000,165 shares of the company’s stock, valued at $24,780,584.10. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the sale, the chief executive officer directly owned 25,193 shares of the company’s stock, valued at approximately $92,458.31. This trade represents a 94.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,118,819 shares of company stock valued at $4,114,677. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Grab

Several large investors have recently bought and sold shares of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Grab in the fourth quarter valued at approximately $25,000. Montag A & Associates Inc. acquired a new position in shares of Grab in the first quarter valued at approximately $27,000. Parallel Advisors LLC boosted its holdings in shares of Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after buying an additional 4,601 shares during the period. Signaturefd LLC boosted its holdings in shares of Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the period. Finally, Advocate Investing Services LLC acquired a new position in shares of Grab in the fourth quarter valued at approximately $35,000. Institutional investors own 55.52% of the company’s stock.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.