Grab Holdings Limited (NASDAQ:GRAB) Receives $4.71 Consensus Target Price from Analysts

Shares of Grab Holdings Limited (NASDAQ:GRAB) have earned an average rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.70.

A number of equities analysts have issued reports on the company. Jefferies Financial Group lowered their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Daiwa Capital Markets initiated coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. Finally, Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th.

Hedge Funds Weigh In On Grab

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. raised its position in shares of Grab by 34.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after acquiring an additional 4,725 shares in the last quarter. Traynor Capital Management Inc. bought a new stake in Grab in the third quarter worth approximately $41,000. Assenagon Asset Management S.A. lifted its stake in Grab by 129.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock valued at $30,700,000 after buying an additional 4,557,800 shares during the period. GFG Capital LLC acquired a new stake in shares of Grab during the 3rd quarter worth approximately $149,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after acquiring an additional 3,163,309 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Performance

Grab stock opened at $4.07 on Monday. The stock has a market cap of $15.97 billion, a PE ratio of -58.14 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab has a 12-month low of $2.90 and a 12-month high of $4.32. The business’s 50-day moving average price is $3.57 and its two-hundred day moving average price is $3.52.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $664.00 million during 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 in the prior year, the firm earned ($0.03) EPS. As a group, analysts expect that Grab will post -0.04 earnings per share for the current fiscal year.

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.