Grab’s (GRAB) Buy Rating Reaffirmed at Benchmark

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 price target on the stock. Benchmark’s price objective would suggest a potential upside of 36.99% from the company’s current price.

GRAB has been the subject of several other research reports. Jefferies Financial Group lowered their target price on shares of 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 started coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.70.

Grab Stock Performance

NASDAQ:GRAB opened at $4.38 on Tuesday. Grab has a 12 month low of $2.90 and a 12 month high of $4.44. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The firm has a market capitalization of $17.18 billion, a PE ratio of -87.60 and a beta of 0.81. The business’s fifty day moving average price is $3.78 and its 200 day moving average price is $3.58.

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

Institutional Investors Weigh In On Grab

Several hedge funds have recently made changes to their positions in GRAB. Dorsey & Whitney Trust CO LLC acquired a new stake in Grab during the 1st quarter worth approximately $32,000. Blue Trust Inc. grew its position in Grab by 53.6% in the 3rd 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. Sage Rhino Capital LLC purchased a new position in Grab in the 2nd quarter valued at $38,000. Traynor Capital Management Inc. acquired a new position in Grab in the 3rd quarter valued at $41,000. Finally, Prospect Financial Services LLC acquired a new stake in shares of Grab in the 2nd quarter worth $53,000. Institutional investors and hedge funds 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.