Grab (NASDAQ:GRAB) Issues Quarterly Earnings Results

Grab (NASDAQ:GRAB) announced its quarterly earnings data on Monday. The company reported $0.01 earnings per share for the quarter, Zacks reports. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period in the prior year, the company earned ($0.02) earnings per share.

Grab Price Performance

Shares of Grab stock traded up $0.51 during trading hours on Tuesday, reaching $4.89. 148,522,912 shares of the company’s stock were exchanged, compared to its average volume of 24,245,191. The company has a market capitalization of $19.18 billion, a P/E ratio of -96.00 and a beta of 0.81. Grab has a 1 year low of $2.90 and a 1 year high of $4.93. The business has a fifty day moving average of $3.78 and a two-hundred day moving average of $3.58. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRAB shares. Daiwa Capital Markets started coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Jefferies Financial Group lowered their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Evercore ISI boosted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab currently has a consensus rating of “Buy” and an average target price of $5.28.

Grab Company Profile

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.