Grab (NASDAQ:GRAB) Earns Outperform Rating from Analysts at Daiwa Capital Markets

Daiwa Capital Markets began coverage on shares of Grab (NASDAQ:GRAB) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $4.60 price objective on the stock.

Several other research firms have also issued reports on GRAB. Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Mizuho initiated coverage on Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price on the stock. Finally, Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $4.70.

Grab Stock Performance

Shares of Grab stock opened at $4.14 on Wednesday. Grab has a 52 week low of $2.90 and a 52 week high of $4.32. The business’s fifty day simple moving average is $3.53 and its 200-day simple moving average is $3.50. The firm has a market cap of $16.24 billion, a PE ratio of -59.14 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Equities analysts forecast that Grab will post -0.04 earnings per share for the current year.

Institutional Investors Weigh In On Grab

Several large investors have recently bought and sold shares of GRAB. Wellington Management Group LLP increased its holdings in Grab by 21,347.2% during the 4th quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock worth $22,660,000 after purchasing an additional 6,692,769 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Grab by 33.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 55,789 shares of the company’s stock valued at $188,000 after acquiring an additional 14,015 shares during the last quarter. Vanguard Capital Wealth Advisors increased its holdings in shares of Grab by 288.5% in the 1st quarter. Vanguard Capital Wealth Advisors now owns 224,935 shares of the company’s stock valued at $706,000 after acquiring an additional 167,035 shares during the last quarter. Deltec Asset Management LLC increased its holdings in shares of Grab by 827.6% in the 1st quarter. Deltec Asset Management LLC now owns 2,272,655 shares of the company’s stock valued at $7,136,000 after acquiring an additional 2,027,655 shares during the last quarter. Finally, Optas LLC increased its holdings in shares of Grab by 114.0% in the 1st quarter. Optas LLC now owns 22,809 shares of the company’s stock valued at $72,000 after acquiring an additional 12,149 shares during the last quarter. 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.