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

Benchmark reissued their buy rating on shares of Grab (NASDAQ:GRAB) in a report released on Wednesday morning, Benzinga reports. They currently have a $6.00 target price on the stock.

Several other research analysts have also recently weighed in on GRAB. Mizuho initiated coverage on Grab in a research report on Thursday, June 27th. They set an outperform rating and a $5.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Grab in a research report on Friday, May 17th. They issued a buy rating and a $4.50 target price for the company. Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a buy rating for the company in a research report on Wednesday, July 17th. Finally, Barclays boosted their price objective on shares of Grab from $4.30 to $4.70 and gave the company an overweight rating in a research report on Wednesday, May 22nd. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $4.71.

Grab Trading Up 0.6 %

Shares of NASDAQ GRAB opened at $3.47 on Wednesday. Grab has a twelve month low of $2.90 and a twelve month high of $3.77. The stock has a market cap of $13.61 billion, a price-to-earnings ratio of -49.56 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $3.33 and its 200-day moving average is $3.39.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same period in the previous year, the company posted ($0.03) earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Equities research analysts predict that Grab will post -0.01 EPS for the current year.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC raised its position in shares of Grab by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after buying an additional 3,020 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after acquiring an additional 3,795 shares during the last quarter. Cigna Investments Inc. New grew its holdings in shares of Grab by 12.9% in the second quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after purchasing an additional 4,595 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in Grab by 0.7% in the 2nd quarter. Lake Street Advisors Group LLC now owns 700,455 shares of the company’s stock worth $2,487,000 after acquiring an additional 5,131 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Grab by 0.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock worth $3,103,000 after buying an additional 5,317 shares during the period. Institutional investors own 55.52% of the company’s stock.

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.