Benchmark Reaffirms “Buy” Rating for Grab (NASDAQ:GRAB)

Benchmark reiterated their buy rating on shares of Grab (NASDAQ:GRAB) in a report published on Tuesday morning,Benzinga reports. Benchmark currently has a $6.00 target price on the stock.

A number of other equities analysts have also commented on the company. Jefferies Financial Group cut their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Daiwa Capital Markets initiated coverage on Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab presently has an average rating of “Buy” and a consensus price target of $5.48.

Grab Stock Performance

Shares of GRAB stock traded down $0.03 during mid-day trading on Tuesday, reaching $4.70. 21,025,111 shares of the stock traded hands, compared to its average volume of 24,585,615. The stock’s fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $3.61. Grab has a 1-year low of $2.90 and a 1-year high of $4.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period last year, the firm posted ($0.02) earnings per share. Equities analysts predict that Grab will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Several institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake in shares of Grab during the first quarter valued at approximately $111,000. Forsta AP Fonden increased its holdings in shares of Grab by 1.1% during the first quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock valued at $1,734,000 after acquiring an additional 6,100 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Grab by 107.2% during the first quarter. Sei Investments Co. now owns 5,013,111 shares of the company’s stock valued at $15,741,000 after acquiring an additional 2,593,616 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Grab during the first quarter valued at approximately $236,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Grab by 6.4% during the first quarter. Russell Investments Group Ltd. now owns 3,393,371 shares of the company’s stock valued at $10,655,000 after acquiring an additional 205,128 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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.