Grab’s (GRAB) Buy Rating Reaffirmed at Benchmark

Benchmark reissued their buy rating on shares of Grab (NASDAQ:GRAB) in a research note published on Monday morning, Benzinga reports. Benchmark currently has a $6.00 price objective on the stock.

A number of other research analysts have also commented on GRAB. Barclays reduced their target price on shares of Grab from $4.50 to $4.30 and set an overweight rating for the company in a report on Monday, February 5th. JPMorgan Chase & Co. raised Grab from a neutral rating to an overweight rating and increased their price objective for the stock from $3.60 to $3.80 in a research report on Thursday, January 18th. Finally, HSBC reissued a buy rating and issued a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and a consensus price target of $5.10.

Grab Stock Up 1.4 %

Shares of NASDAQ:GRAB opened at $3.55 on Monday. The stock has a market cap of $13.93 billion, a price-to-earnings ratio of -35.50 and a beta of 0.81. The firm’s 50 day moving average price is $3.29 and its 200 day moving average price is $3.23. Grab has a fifty-two week low of $2.67 and a fifty-two week high of $3.92. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. The firm had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. Grab’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) earnings per share. As a group, equities research analysts predict that Grab will post 0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG lifted its position in Grab by 2.4% during the 3rd quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock worth $10,495,000 after acquiring an additional 69,792 shares in the last quarter. FMR LLC increased its stake in Grab by 2,898.6% during the 3rd quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after buying an additional 4,428,407 shares during the period. Public Sector Pension Investment Board lifted its holdings in Grab by 0.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after buying an additional 4,200 shares in the last quarter. Kinetic Partners Management LP acquired a new position in Grab in the 3rd quarter worth $23,176,000. Finally, OPTIMAS CAPITAL Ltd purchased a new position in Grab in the 4th quarter valued at about $2,146,000. Institutional investors and hedge funds 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.