Grab (NASDAQ:GRAB) Sets New 1-Year High – Should You Buy?

Shares of Grab Holdings Limited (NASDAQ:GRAB) hit a new 52-week high during trading on Thursday . The stock traded as high as $4.44 and last traded at $4.34, with a volume of 2155829 shares trading hands. The stock had previously closed at $4.22.

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Daiwa Capital Markets began coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Jefferies Financial Group cut their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $4.70.

Grab Stock Up 2.4 %

The stock has a market cap of $16.95 billion, a price-to-earnings ratio of -84.40 and a beta of 0.81. 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 firm’s 50-day simple moving average is $3.71 and its two-hundred day simple moving average is $3.56.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, sell-side analysts expect that Grab Holdings Limited will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

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