Grab (NASDAQ:GRAB) Research Coverage Started at Daiwa Capital Markets

Daiwa Capital Markets initiated coverage on shares of Grab (NASDAQ:GRAB) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $4.60 target price on the stock.

A number of other research firms also recently issued reports on GRAB. Jefferies Financial Group dropped their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho began coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $4.70.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $4.07 on Wednesday. The firm’s 50-day moving average price is $3.57 and its 200-day moving average price is $3.51. 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 has a market cap of $15.97 billion, a PE ratio of -58.14 and a beta of 0.83. Grab has a 52-week low of $2.90 and a 52-week high of $4.32.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, analysts anticipate that Grab will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Grab

Several large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in Grab by 8.1% during the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares in the last quarter. Blue Trust Inc. raised its position in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the last quarter. Cigna Investments Inc. New raised its position in shares of Grab by 12.9% during the second quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock valued at $143,000 after buying an additional 4,595 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of Grab by 34.5% during the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after buying an additional 4,725 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

About Grab

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.