Grab’s (GRAB) “Buy” Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Grab (NASDAQ:GRAB) in a report issued on Thursday morning,Benzinga reports. They currently have a $6.00 price objective on the stock.

A number of other brokerages have also issued reports on GRAB. Barclays upped their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a research note on Thursday, November 21st. HSBC raised Grab from a “hold” rating to a “buy” rating and lowered their price target for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Performance

Shares of GRAB opened at $4.90 on Thursday. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. The stock has a fifty day moving average price of $4.76 and a 200-day moving average price of $4.29. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a market cap of $19.73 billion, a PE ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.90.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Equities research analysts predict that Grab will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in shares of Grab during the fourth quarter valued at about $25,000. Global Retirement Partners LLC acquired a new stake in Grab during the fourth quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new position in Grab in the fourth quarter valued at $30,000. Blue Trust Inc. increased its position in Grab by 53.6% during the third 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 period. Finally, TD Private Client Wealth LLC raised its position in Grab by 7,238.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock valued at $38,000 after purchasing an additional 7,890 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.