Grab (NASDAQ:GRAB) Stock Rating Upgraded by Zacks Investment Research - Defense World - Financial Daily News Site

Grab (NASDAQ:GRAB) Stock Rating Upgraded by Zacks Investment Research – Defense World


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

According to Zacks, “Grab Holdings Limited offer superapp in each of food deliveries, mobility and the e-wallets segment of financial services. It operates principally in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab Holdings Limited, formerly known as Altimeter Growth Corp., is based in MENLO PARK, Calif. “

Other research analysts have also issued reports about the stock. DBS Vickers lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.60 target price for the company. in a research note on Thursday, February 24th. JPMorgan Chase & Co. lowered shares of Grab from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $12.50 to $5.70 in a research note on Thursday, February 24th. The Goldman Sachs Group initiated coverage on shares of Grab in a research note on Thursday, January 27th. They set a “buy” rating and a $7.90 target price for the company. HSBC reduced their target price on shares of Grab from $7.50 to $4.75 and set a “buy” rating for the company in a research note on Monday. Finally, Sanford C. Bernstein initiated coverage on shares of Grab in a research note on Tuesday, April 19th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $6.84.

Shares of NASDAQ:GRAB traded up $0.09 during trading on Friday, reaching $2.41. 54,979,740 shares of the company’s stock traded hands, 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 debt-to-equity 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 added to or reduced their stakes 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 valued at approximately $71,000. Arena Capital Advisors LLC CA acquired a new stake in Grab during the first quarter valued at approximately $35,000. Stephens Inc. AR acquired a new stake in Grab during the fourth quarter valued at 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 stock is owned by institutional investors and hedge funds.

About Grab (Get Rating)

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

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