Grab (NASDAQ:GRAB) Earns “Buy” Rating from Benchmark

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating restated by analysts at Benchmark in a report issued on Thursday,Benzinga reports. They currently have a $6.00 target price on the stock. Benchmark’s price objective indicates a potential upside of 22.45% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. JPMorgan Chase & Co. downgraded Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Barclays increased their price target on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a report on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $5.62.

Grab Price Performance

NASDAQ GRAB opened at $4.90 on Thursday. The company has a 50 day simple moving average of $4.76 and a 200-day simple moving average of $4.28. Grab has a 52-week low of $2.98 and a 52-week high of $5.72. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of -245.00, a price-to-earnings-growth ratio of 2.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Equities research analysts predict that Grab will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds have recently modified their holdings of the business. Ellevest Inc. boosted its position in shares of Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock valued at $391,000 after acquiring an additional 2,636 shares during the period. Empowered Funds LLC boosted its position in shares of Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after acquiring an additional 3,147 shares during the period. Blue Trust Inc. boosted its position in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after acquiring an additional 3,500 shares during the period. Finally, Wedbush Securities Inc. boosted its position in shares of Grab by 19.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock valued at $103,000 after acquiring an additional 3,500 shares during the period. 55.52% of the stock is owned by institutional investors.

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.