Grab’s (GRAB) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Grab (NASDAQ:GRAB) in a research note released on Tuesday,Benzinga reports. Benchmark currently has a $6.00 price target on the stock.

Several other analysts also recently commented on GRAB. 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 price objective on the stock. Jefferies Financial Group reduced their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.48.

Grab Price Performance

Shares of NASDAQ GRAB opened at $4.73 on Tuesday. The company has a 50 day simple moving average of $3.90 and a two-hundred day simple moving average of $3.61. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.93. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of -236.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.97 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. Analysts expect that Grab will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Allspring Global Investments Holdings LLC lifted its holdings in shares of Grab by 18.5% during 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 buying an additional 3,163,309 shares during the period. Cohen Capital Management Inc. purchased a new position in Grab in the third quarter worth about $1,723,000. Quadrature Capital Ltd grew its stake in shares of Grab by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after purchasing an additional 590,580 shares during the period. Toronto Dominion Bank increased its position in shares of Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after purchasing an additional 1,555,579 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock worth $3,135,000 after purchasing an additional 133,531 shares during the period. Hedge funds and other 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.