Daiwa Capital Markets Initiates Coverage on Grab (NASDAQ:GRAB)

Analysts at Daiwa Capital Markets initiated coverage on shares of Grab (NASDAQ:GRAB - Get Free Report) in a note issued to investors on Wednesday, MarketBeat.com reports. The firm set an "outperform" rating and a $4.60 price target on the stock. Daiwa Capital Markets' target price indicates a potential upside of 9.52% from the company's previous close.

A number of other equities research analysts have also issued reports on GRAB. Jefferies Financial Group lowered their target price on Grab from $5.00 to $4.70 and set a "buy" rating for the company in a research note on Wednesday, July 17th. Benchmark reissued a "buy" rating and issued a $6.00 price target on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho initiated coverage on Grab in a report on Thursday, June 27th. They set an "outperform" rating and a $5.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $4.70.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.20 on Wednesday. The firm has a market capitalization of $16.48 billion, a PE ratio of -59.43 and a beta of 0.83. 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 business has a 50-day moving average of $3.52 and a two-hundred day moving average of $3.50. Grab has a 12 month low of $2.90 and a 12 month high of $4.22.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $664.00 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted ($0.03) earnings per share. As a group, research analysts forecast that Grab will post -0.04 earnings per share for the current year.

Institutional Trading of Grab

Several large investors have recently added to or reduced their stakes in GRAB. Allspring Global Investments Holdings LLC increased its position 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 purchasing an additional 3,163,309 shares during the period. Quadrature Capital Ltd increased its position in shares of Grab by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company's stock valued at $3,348,000 after purchasing an additional 590,580 shares during the period. Toronto Dominion Bank increased its position in shares of Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company's stock valued at $18,238,000 after purchasing an additional 1,555,579 shares during the period. Public Sector Pension Investment Board increased its position in shares of Grab by 17.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company's stock valued at $3,135,000 after purchasing an additional 133,531 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Grab by 30.1% during the 2nd quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company's stock valued at $13,479,000 after purchasing an additional 878,375 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.