Grab’s (GRAB) “Buy” Rating Reaffirmed at Benchmark

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research report issued on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock. Benchmark’s price objective would suggest a potential upside of 36.99% from the stock’s current price.

Several other equities analysts also recently weighed in on GRAB. Jefferies Financial Group dropped their price objective on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab has an average rating of “Buy” and an average target price of $4.70.

Grab Trading Up 3.5 %

NASDAQ:GRAB opened at $4.38 on Tuesday. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of -87.60 and a beta of 0.81. Grab has a 1 year low of $2.90 and a 1 year high of $4.44. The stock has a fifty day moving average price of $3.78 and a two-hundred day moving average price of $3.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. During the same quarter last year, the business earned ($0.03) earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Grab will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its position in shares of Grab by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares during the period. Empowered Funds LLC boosted its stake in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. grew its holdings in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake in shares of Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after acquiring an additional 3,795 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after acquiring an additional 3,941 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

About Grab

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.