Grab (NASDAQ:GRAB) Stock Bumped Up to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded Grab to “strong buy” from “hold,” while the broader analyst consensus remains “buy” with an average price target of $6.11.
• Grab’s latest quarterly results exceeded expectations, with earnings per share of $0.06 versus the $0.05 consensus and revenue of $997 million versus estimates of $994.97 million.
• Shares opened at $3.08 and remain below their 50-day and 200-day moving averages; insiders have sold more than 1.2 million shares worth $4.43 million over the past three months.

Grab (NASDAQ:GRAB - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

Several other equities analysts have also weighed in on GRAB. KeyCorp set a $7.00 price objective on Grab in a research note on Wednesday, September 16th. Bank of America reissued a "buy" rating on shares of Grab in a research report on Friday, September 25th. Morgan Stanley restated an "overweight" rating and issued a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Weiss Ratings cut shares of Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 17th. Finally, Benchmark reiterated a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Grab currently has a consensus rating of "Buy" and an average price target of $6.11.

Grab Trading Up 0.3%

GRAB stock opened at $3.08 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 51.34, a PEG ratio of 0.73 and a beta of 0.91. The business has a fifty day simple moving average of $3.34 and a 200-day simple moving average of $3.54. Grab has a 52 week low of $2.74 and a 52 week high of $6.44.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The firm had revenue of $997.00 million for the quarter, compared to analysts' expectations of $994.97 million. On average, equities research analysts expect that Grab will post 0.14 EPS for the current year.

Insider Activity

In related news, insider Chin Ong sold 38,000 shares of Grab stock in a transaction on Monday, October 5th. The shares were sold at an average price of $3.09, for a total transaction of $117,420.00. Following the sale, the insider owned 3,594,611 shares of the company's stock, valued at $11,107,347.99. The trade was a 1.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $3.08, for a total transaction of $92,400.00. Following the completion of the transaction, the insider owned 3,958,735 shares in the company, valued at $12,192,903.80. This represents a 0.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,219,349 shares of company stock worth $4,429,355 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Grab during the 4th quarter valued at approximately $25,000. Montag A & Associates Inc. acquired a new position in shares of Grab in the 1st quarter valued at approximately $27,000. Strategic Global Advisors LLC purchased a new position in shares of Grab during the 2nd quarter valued at approximately $41,000. 71 West Capital Partners acquired a new stake in shares of Grab during the second quarter worth approximately $43,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of Grab during the first quarter worth approximately $42,000. Institutional investors and hedge funds own 55.52% of the company's stock.

About Grab

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company's main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.

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