Grab Holdings Limited (NASDAQ:GRAB) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Grab, with eight buys, two holds and one strong-buy rating. The average 12-month price target is $6.01 versus the stock’s recent $3.66 price.
• Grab’s latest quarterly results exceeded expectations, with adjusted EPS of $0.06 versus the $0.05 consensus and revenue of $997 million, slightly above estimates.
• Institutional ownership increased, with major investors including BlackRock, Invesco and Marshall Wace adding shares; institutions collectively own 55.52% of Grab. Insiders, however, sold 1.67 million shares worth about $6.1 million over the past 90 days.

Shares of Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $6.0056.

Several equities research analysts recently issued reports on the stock. Benchmark reissued a "buy" rating on shares of Grab in a report on Tuesday. Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. dropped their price target on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a research report on Tuesday, May 5th. China Renaissance upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th.

Insider Activity

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the sale, the chief financial officer directly owned 6,950,165 shares of the company's stock, valued at $24,534,082.45. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Charles Hungate sold 144,093 shares of the business's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total value of $497,120.85. Following the completion of the transaction, the chief operating officer owned 6,254,023 shares in the company, valued at $21,576,379.35. The trade was a 2.25% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 1,666,093 shares of company stock worth $6,084,081. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Grab

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company's stock worth $588,783,000 after purchasing an additional 9,357,389 shares in the last quarter. Invesco Ltd. grew its holdings in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock valued at $480,383,000 after buying an additional 15,916,063 shares in the last quarter. Marshall Wace LLP raised its position in shares of Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock valued at $361,542,000 after buying an additional 23,891,108 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Grab by 1.6% during the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock valued at $282,778,000 after buying an additional 878,966 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock worth $200,957,000 after buying an additional 20,152,535 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Performance

Shares of GRAB opened at $3.66 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $3.58 and a two-hundred day simple moving average of $3.82. The stock has a market cap of $15.00 billion, a price-to-earnings ratio of 61.01, a PEG ratio of 0.91 and a beta of 0.89. Grab has a 52 week low of $3.18 and a 52 week high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $994.97 million. On average, analysts expect that Grab will post 0.14 EPS for the current year.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing "super app" across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.

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