Grab (NASDAQ:GRAB) Given "Buy" Rating at Benchmark

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

GRAB has been the subject of several other reports. HSBC upgraded Grab from a "hold" rating to a "buy" rating and dropped their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut Grab from an "overweight" rating to a "neutral" rating in a report on Wednesday, February 5th. Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Daiwa Capital Markets initiated coverage on Grab in a research report on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price target for the company. Finally, Bank of America raised Grab from an "underperform" rating to a "neutral" rating and upped their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $5.62.

Grab Price Performance

Shares of GRAB traded up $0.12 during midday trading on Thursday, reaching $4.90. The stock had a trading volume of 56,373,621 shares, compared to its average volume of 36,315,199. The company 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. Grab has a 12-month low of $2.98 and a 12-month high of $5.72. The company's 50-day moving average is $4.76 and its 200 day moving average is $4.28. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. On average, equities analysts predict that Grab will post -0.02 EPS for the current fiscal year.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently made changes to their positions in GRAB. Blue Trust Inc. grew its stake in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock worth $35,000 after buying an additional 3,408 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Grab by 129.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company's stock worth $30,700,000 after buying an additional 4,557,800 shares during the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the 3rd quarter worth approximately $41,000. First Trust Direct Indexing L.P. grew its stake in shares of Grab by 34.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company's stock worth $70,000 after buying an additional 4,725 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Grab by 25.7% in the 3rd quarter. New York State Common Retirement Fund now owns 7,777,606 shares of the company's stock worth $29,555,000 after buying an additional 1,588,169 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.