Grab (NASDAQ:GRAB) Given “Buy” Rating at Benchmark

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reiterated by equities research analysts at Benchmark in a report released on Monday, Benzinga reports. They presently have a $6.00 price objective on the stock. Benchmark’s target price points to a potential upside of 69.01% from the stock’s previous close.

Several other research analysts have also issued reports on GRAB. Barclays reduced their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and raised their target price for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. Finally, HSBC reaffirmed a “buy” rating and issued a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $5.10.

Grab Stock Up 0.6 %

Shares of NASDAQ:GRAB opened at $3.55 on Monday. Grab has a 12 month low of $2.67 and a 12 month high of $3.92. The company’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.23. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10. The firm has a market cap of $13.93 billion, a P/E ratio of -35.40 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. As a group, research analysts forecast that Grab will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG boosted its stake in Grab by 2.4% during the 3rd quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock worth $10,495,000 after acquiring an additional 69,792 shares during the last quarter. FMR LLC increased its position in shares of Grab by 2,898.6% during the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after acquiring an additional 4,428,407 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Grab by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after acquiring an additional 4,200 shares in the last quarter. Kinetic Partners Management LP bought a new stake in shares of Grab during the third quarter worth $23,176,000. Finally, OPTIMAS CAPITAL Ltd bought a new stake in shares of Grab during the fourth quarter worth $2,146,000. Institutional investors own 55.52% of the company’s stock.

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.