Benchmark Reiterates “Buy” Rating for Grab (NASDAQ:GRAB)

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating restated by research analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $6.00 price target on the stock. Benchmark’s target price indicates a potential upside of 22.70% from the stock’s previous close.

A number of other equities analysts have also recently commented on GRAB. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $5.48.

Grab Stock Performance

Shares of GRAB opened at $4.89 on Tuesday. 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 firm has a 50-day moving average of $3.84 and a 200-day moving average of $3.60. The company has a market cap of $19.18 billion, a PE ratio of -244.50 and a beta of 0.81. Grab has a one year low of $2.90 and a one year high of $4.93.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the previous year, the business earned ($0.02) earnings per share. As a group, equities analysts forecast that Grab will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Several hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its position in shares of Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after acquiring an additional 3,020 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares in the last quarter. Blue Trust Inc. increased 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 purchasing an additional 3,408 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after buying an additional 3,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after buying an additional 3,941 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

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.