Grab (NASDAQ:GRAB) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Grab (NASDAQ:GRAB - Free Report) in a research report released on Thursday, Benzinga reports. The brokerage currently has a $6.00 price objective on the stock.

A number of other analysts have also issued reports on the company. Barclays lowered their target price on Grab from $4.50 to $4.30 and set an overweight rating on the stock in a report on Monday, February 5th. JPMorgan Chase & Co. raised shares of Grab from a neutral rating to an overweight rating and boosted their target price 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 price target on shares of Grab in a report on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $5.10.

Grab Stock Performance

Grab stock traded up $0.05 during trading hours on Thursday, reaching $3.65. 61,920,234 shares of the company were exchanged, compared to its average volume of 24,003,770. Grab has a 12 month low of $2.67 and a 12 month high of $3.92. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of -36.50 and a beta of 0.81. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $3.34 and a 200 day moving average of $3.25.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Raymond James & Associates lifted its holdings in shares of Grab by 19.6% during the third quarter. Raymond James & Associates now owns 83,774 shares of the company's stock valued at $297,000 after acquiring an additional 13,709 shares during the period. Advisor Partners II LLC boosted its position in Grab by 103.9% in the third quarter. Advisor Partners II LLC now owns 23,896 shares of the company's stock valued at $85,000 after buying an additional 12,175 shares in the last quarter. CIBC Asset Management Inc grew its stake in Grab by 45.0% during the third quarter. CIBC Asset Management Inc now owns 181,514 shares of the company's stock worth $643,000 after buying an additional 56,357 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Grab by 59.8% during the third quarter. Teacher Retirement System of Texas now owns 152,694 shares of the company's stock worth $541,000 after buying an additional 57,112 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in shares of Grab by 91.3% in the third quarter. Daiwa Securities Group Inc. now owns 202,621 shares of the company's stock valued at $717,000 after acquiring an additional 96,721 shares during the last quarter. 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.