Grab Holdings Limited (NASDAQ:GRAB) Receives $5.10 Average PT from Analysts

Grab Holdings Limited (NASDAQ:GRAB) has been given an average recommendation of “Buy” by the six analysts that are covering the company, MarketBeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $5.10.

Several equities research analysts recently commented on the stock. Barclays decreased their price objective on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. HSBC reaffirmed a “buy” rating and issued a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $3.60 to $3.80 in a research note on Thursday, January 18th.

Grab Price Performance

GRAB stock opened at $3.49 on Monday. The firm has a 50 day moving average of $3.24 and a 200-day moving average of $3.22. The company has a market cap of $13.69 billion, a price-to-earnings ratio of -34.90 and a beta of 0.91. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. Grab has a 12-month low of $2.67 and a 12-month high of $3.92.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. Grab’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.10) earnings per share. As a group, equities analysts expect that Grab will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Grab

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Grab during the fourth quarter worth $146,995,000. Barclays PLC lifted its position in Grab by 21,204.4% during the third quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock worth $132,048,000 after buying an additional 37,126,838 shares during the period. Artisan Partners Limited Partnership boosted its stake in Grab by 11.3% in the 4th quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after buying an additional 2,523,484 shares during the last quarter. Fullerton Fund Management Co Ltd. grew its holdings in Grab by 20.9% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock valued at $58,354,000 after buying an additional 2,997,442 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Grab during the 1st quarter valued at about $52,920,000. 55.52% of the stock is owned by institutional investors and hedge funds.

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.