Grab (NASDAQ:GRAB) Earns Buy Rating from Benchmark

Benchmark restated their buy rating on shares of Grab (NASDAQ:GRAB - Free Report) in a report issued on Tuesday,Benzinga reports. The firm currently has a $6.00 price target on the stock.

A number of other brokerages have also weighed in on GRAB. Jefferies Financial Group cut their price target on shares of Grab from $5.00 to $4.70 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Daiwa Capital Markets initiated coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price objective on the stock. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $5.28.

Grab Stock Performance

NASDAQ:GRAB traded up $0.50 during midday trading on Tuesday, reaching $4.88. The stock had a trading volume of 119,442,328 shares, compared to its average volume of 24,135,133. Grab has a 1-year low of $2.90 and a 1-year high of $4.93. The firm's fifty day simple moving average is $3.78 and its 200-day simple moving average is $3.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The stock has a market capitalization of $19.14 billion, a P/E ratio of -96.00 and a beta of 0.81.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting analysts' consensus estimates of ($0.01). The company had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. On average, equities research analysts forecast that Grab will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. purchased a new stake in Grab in the second quarter worth approximately $166,587,000. Point72 Asset Management L.P. bought a new stake in Grab during the 2nd quarter valued at approximately $57,696,000. Coronation Fund Managers Ltd. grew its position in shares of Grab by 29.7% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock worth $161,357,000 after buying an additional 10,410,574 shares during the period. Marshall Wace LLP lifted its holdings in shares of Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company's stock valued at $107,941,000 after purchasing an additional 8,635,310 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Grab by 83.6% during the third quarter. Citigroup Inc. now owns 14,277,673 shares of the company's stock valued at $54,255,000 after acquiring an additional 6,503,051 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

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.