Grab Holdings Limited (NASDAQ:GRAB) Receives Average Recommendation of "Buy" from Analysts

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) have been given an average recommendation of "Buy" by the seven research firms that are covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.71.

A number of equities research analysts have recently issued reports on the stock. 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 report on Wednesday, July 17th. Benchmark restated a "buy" rating and issued a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho began coverage on Grab in a research report on Thursday, June 27th. They issued an "outperform" rating and a $5.00 target price for the company.

Grab Price Performance

Grab stock traded up $0.30 during midday trading on Monday, hitting $4.03. The company's stock had a trading volume of 59,127,211 shares, compared to its average volume of 23,223,281. Grab has a 12 month low of $2.90 and a 12 month high of $4.06. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average price is $3.48 and its 200-day moving average price is $3.49. The company has a market capitalization of $15.81 billion, a PE ratio of -57.71 and a beta of 0.83.

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

Hedge Funds Weigh In On Grab

A number of hedge funds have recently modified their holdings of GRAB. GFG Capital LLC purchased a new position in Grab in the third quarter valued at about $149,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock valued at $76,924,000 after buying an additional 3,163,309 shares during the last quarter. 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 valued at $35,000 after buying an additional 3,408 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Grab in the third quarter worth approximately $313,000. Finally, CX Institutional acquired a new position in Grab in the third quarter worth approximately $342,000. 55.52% of the stock is owned by institutional investors and hedge funds.

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.