Grab (NASDAQ:GRAB) Releases Quarterly Earnings Results

Grab (NASDAQ:GRAB) posted its quarterly earnings data on Monday. The company reported $0.01 earnings per share for the quarter, Zacks reports. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. During the same period in the previous year, the firm earned ($0.02) EPS.

Grab Trading Up 11.6 %

Grab stock traded up $0.51 during trading hours on Tuesday, hitting $4.89. The company had a trading volume of 148,522,912 shares, compared to its average volume of 24,245,191. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The company has a 50-day moving average price of $3.78 and a two-hundred day moving average price of $3.58. The firm has a market cap of $19.18 billion, a P/E ratio of -96.00 and a beta of 0.81. Grab has a 1 year low of $2.90 and a 1 year high of $4.93.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GRAB shares. JPMorgan Chase & Co. boosted their price target on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday. Evercore ISI raised their target price on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday. Jefferies Financial Group reduced their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark restated a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday. Finally, Daiwa Capital Markets initiated coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab currently has an average rating of “Buy” and an average price target of $5.28.

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.