Grab’s (GRAB) “Buy” Rating Reiterated at Benchmark

Benchmark reaffirmed their buy rating on shares of Grab (NASDAQ:GRAB) in a research report released on Monday, Benzinga reports. Benchmark currently has a $6.00 price objective on the stock.

Several other analysts have also issued reports on the company. Barclays dropped their target price on Grab from $4.50 to $4.30 and set an overweight rating on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. raised shares of Grab from a neutral rating to an overweight rating and raised their target price for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. Finally, HSBC reaffirmed a buy rating and set a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $5.10.

Grab Stock Performance

NASDAQ:GRAB opened at $3.50 on Monday. The company has a market cap of $13.73 billion, a P/E ratio of -35.00 and a beta of 0.81. Grab has a twelve month low of $2.67 and a twelve month high of $3.92. The business has a 50 day moving average price of $3.28 and a two-hundred day moving average price of $3.23. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10.

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

Hedge Funds Weigh In On Grab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Freemont Capital Pte Ltd acquired a new stake in shares of Grab during the 1st quarter worth about $1,256,000. Russell Investments Group Ltd. lifted its position in Grab by 6.4% during the first quarter. Russell Investments Group Ltd. now owns 3,393,371 shares of the company’s stock worth $10,655,000 after acquiring an additional 205,128 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Grab during the first quarter worth approximately $236,000. Sei Investments Co. boosted its holdings in shares of Grab by 107.2% during the first quarter. Sei Investments Co. now owns 5,013,111 shares of the company’s stock worth $15,741,000 after acquiring an additional 2,593,616 shares during the period. Finally, Susquehanna International Group Ltd. increased its stake in shares of Grab by 55.8% during the first quarter. Susquehanna International Group Ltd. now owns 53,460 shares of the company’s stock worth $168,000 after purchasing an additional 19,141 shares during the period. 55.52% of the stock is owned by institutional investors.

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.