Grab (NASDAQ:GRAB) Receives Buy Rating from Benchmark

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

Other equities research analysts have also issued research reports about the company. Barclays lowered their price objective on Grab from $4.50 to $4.30 and set an overweight rating for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. raised shares of Grab from a neutral rating to an overweight rating and upped their price target for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Finally, HSBC reissued a buy rating and set a $4.30 price objective on shares of Grab in a report on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $5.10.

Grab Price Performance

Grab stock opened at $3.53 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. Grab has a one year low of $2.67 and a one year high of $3.92. The stock’s 50 day moving average price is $3.27 and its 200 day moving average price is $3.23.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $653.00 million during 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 business’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. Research analysts forecast that Grab will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently modified their holdings of GRAB. SG Americas Securities LLC grew its position in shares of Grab by 36.9% during the 1st quarter. SG Americas Securities LLC now owns 2,918,523 shares of the company’s stock valued at $9,164,000 after buying an additional 787,029 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Grab during the first quarter valued at approximately $111,000. Callan Capital LLC acquired a new stake in shares of Grab during the 1st quarter worth approximately $34,000. Coronation Fund Managers Ltd. lifted its holdings in shares of Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after purchasing an additional 18,839,407 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Grab during the 1st quarter valued at approximately $1,823,000. 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.