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

Benchmark restated their buy rating on shares of Grab (NASDAQ:GRABFree Report) in a research note published on Thursday, Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

Several other equities research analysts also recently issued reports on GRAB. HSBC restated a buy rating and issued a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of Grab from a neutral rating to an overweight rating and boosted their price objective for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. Finally, Barclays reduced their target price on shares of Grab from $4.50 to $4.30 and set an overweight rating for the company in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab presently has an average rating of Buy and an average target price of $5.01.

Check Out Our Latest Stock Analysis on GRAB

Grab Stock Up 1.9 %

Grab stock opened at $3.72 on Thursday. The firm has a market cap of $14.59 billion, a price-to-earnings ratio of -53.14 and a beta of 0.81. The firm has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $3.25. Grab has a fifty-two week low of $2.67 and a fifty-two week high of $3.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87.

Grab (NASDAQ:GRABGet Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business 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 4.61% and a negative net margin of 11.86%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. As a group, analysts forecast that Grab will post 0.01 earnings per share for the current year.

Hedge Funds Weigh In On Grab

A number of hedge funds and other institutional investors have recently made changes to their positions in GRAB. Norges Bank acquired a new position in Grab in the fourth quarter worth about $146,995,000. Barclays PLC raised its holdings in shares of Grab by 21,204.4% in the 3rd 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 in the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of Grab by 116.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after buying an additional 18,839,407 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Grab during the first quarter worth $52,920,000. Finally, Ward Ferry Management BVI Ltd acquired a new position in Grab during the third quarter worth $56,614,000. 55.52% of the stock is owned by institutional investors.

About Grab

(Get Free Report)

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.

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