Benchmark Reiterates Buy Rating for Grab (NASDAQ:GRAB)

Benchmark restated their buy rating on shares of Grab (NASDAQ:GRAB) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the stock.

A number of other research firms have also recently commented on GRAB. Daiwa Capital Markets began coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price target for the company. Jefferies Financial Group lowered their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab presently has an average rating of “Buy” and a consensus target price of $5.28.

Grab Stock Up 11.6 %

NASDAQ:GRAB opened at $4.89 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The stock has a market capitalization of $19.18 billion, a P/E ratio of -97.80 and a beta of 0.81. The company’s 50-day simple moving average is $3.81 and its 200-day simple moving average is $3.59. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.93.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. 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 previous year, the company earned ($0.02) earnings per share. On average, equities analysts anticipate that Grab will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently bought and sold shares of GRAB. Baillie Gifford & Co. purchased a new stake in shares of Grab in the 2nd quarter valued at $166,587,000. Coronation Fund Managers Ltd. lifted its position in Grab by 29.7% during the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after purchasing an additional 10,410,574 shares during the period. Marshall Wace LLP boosted its holdings in Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after purchasing an additional 8,635,310 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the period. Finally, Prudential PLC raised its stake in shares of Grab by 13.9% during the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock valued at $71,803,000 after buying an additional 2,461,934 shares during the last quarter. 55.52% of the stock is 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.