Grab (NASDAQ:GRAB) Shares Gap Down After Earnings Miss

Shares of Grab Holdings Limited (NASDAQ:GRAB) gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $6.07, but opened at $5.57. Grab shares last traded at $5.7670, with a volume of 32,320,689 shares changing hands.

The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $873.00 million for the quarter, compared to the consensus estimate of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. Grab has set its FY 2025 guidance at EPS.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating and issued a $7.00 price objective on shares of Grab in a research note on Tuesday. Benchmark increased their price target on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho set a $7.00 price target on Grab in a research note on Tuesday. Finally, Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.39.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. Amundi increased its holdings in Grab by 102.3% during the first quarter. Amundi now owns 3,349,450 shares of the company’s stock valued at $14,269,000 after buying an additional 1,693,598 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Grab by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,261,794 shares of the company’s stock worth $78,196,000 after purchasing an additional 2,679,277 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of Grab during the first quarter worth $1,197,000. Nordea Investment Management AB lifted its stake in shares of Grab by 2.6% during the second quarter. Nordea Investment Management AB now owns 17,190,535 shares of the company’s stock worth $87,586,000 after buying an additional 437,197 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Grab by 559.1% during the second quarter. Exchange Traded Concepts LLC now owns 1,773,947 shares of the company’s stock worth $8,923,000 after buying an additional 1,504,799 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Down 0.2%

The firm has a market capitalization of $22.67 billion, a price-to-earnings ratio of 141.00 and a beta of 0.88. The company’s 50 day moving average price is $5.83 and its 200 day moving average price is $5.24. The company has a quick ratio of 1.87, a current ratio of 1.83 and a debt-to-equity ratio of 0.05.

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.