Grab Holdings Limited (NASDAQ:GRAB) Receives $6.37 Average PT from Analysts

Grab Holdings Limited (NASDAQ:GRAB) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $6.3714.

A number of research analysts have recently issued reports on GRAB shares. Jefferies Financial Group restated a “buy” rating and issued a $7.00 price target on shares of Grab in a research report on Tuesday, November 4th. Barclays increased their price objective on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. Hsbc Global Res downgraded Grab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Mizuho set a $7.00 price target on Grab in a research report on Tuesday, November 4th. Finally, Benchmark raised their price target on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Hedge Funds Weigh In On Grab

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Grab in the 2nd quarter worth about $175,192,000. Citigroup Inc. grew its position in Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after purchasing an additional 17,160,661 shares during the last quarter. Invesco Ltd. grew its position in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after purchasing an additional 15,916,063 shares during the last quarter. PointState Capital LP increased its stake in shares of Grab by 50.6% in the first quarter. PointState Capital LP now owns 35,148,819 shares of the company’s stock valued at $159,224,000 after purchasing an additional 11,804,514 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Grab by 20.8% during the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock valued at $304,092,000 after buying an additional 10,428,014 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

Shares of GRAB opened at $4.99 on Friday. Grab has a 52 week low of $3.36 and a 52 week high of $6.62. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of 124.78 and a beta of 0.90. The stock has a 50 day moving average of $5.36 and a 200-day moving average of $5.35.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) 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 return on equity of 1.91% and a net margin of 3.81%. As a group, analysts forecast that Grab will post 0.05 EPS for the current year.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.