Benchmark Issues Positive Forecast for Grab (NASDAQ:GRAB) Stock Price

Grab (NASDAQ:GRAB) had its price objective lifted by equities research analysts at Benchmark from $6.00 to $7.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 23.78% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. HSBC reaffirmed a “hold” rating and set a $6.20 target price on shares of Grab in a research note on Wednesday, September 17th. Hsbc Global Res cut Grab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $7.00 target price on shares of Grab in a research note on Tuesday. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $6.28.

Grab Trading Down 6.8%

NASDAQ GRAB traded down $0.42 on Tuesday, hitting $5.66. 51,559,587 shares of the company were exchanged, compared to its average volume of 39,653,043. The company’s 50 day moving average price is $5.80 and its 200-day moving average price is $5.23. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.87. The firm has a market capitalization of $22.77 billion, a P/E ratio of 141.41 and a beta of 0.88. Grab has a twelve month low of $3.36 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Grab had a return on equity of 1.75% and a net margin of 3.65%. Analysts predict that Grab will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. bought a new stake in Grab during the first quarter worth approximately $108,000. Vontobel Holding Ltd. bought a new stake in Grab during the first quarter worth approximately $235,000. Principal Financial Group Inc. lifted its holdings in shares of Grab by 3.2% during the first quarter. Principal Financial Group Inc. now owns 6,197,665 shares of the company’s stock worth $28,075,000 after buying an additional 189,398 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of Grab by 7.3% during the first quarter. IFM Investors Pty Ltd now owns 376,293 shares of the company’s stock worth $1,705,000 after buying an additional 25,618 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Grab by 10.6% during the first quarter. Bank of New York Mellon Corp now owns 4,004,362 shares of the company’s stock worth $18,140,000 after buying an additional 384,917 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

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.