Benchmark Reiterates Buy Rating for Grab (NASDAQ:GRAB)

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a report released on Wednesday, Benzinga reports. They currently have a $6.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 73.91% from the company’s previous close.

GRAB has been the subject of several other reports. Jefferies Financial Group lowered their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a research report on Friday, May 17th. They set a “buy” rating and a $4.50 target price on the stock. Barclays boosted their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Finally, Mizuho initiated coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $4.71.

Grab Price Performance

Grab stock opened at $3.45 on Wednesday. Grab has a 12-month low of $2.90 and a 12-month high of $3.77. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $3.33 and a 200-day moving average price of $3.39. The firm has a market capitalization of $13.53 billion, a PE ratio of -49.29 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. Grab’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. As a group, equities research analysts forecast that Grab will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its position in Grab by 8.1% during the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after acquiring an additional 3,020 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted 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 valued at $50,000 after purchasing an additional 3,795 shares during the last quarter. Cigna Investments Inc. New boosted its position in shares of Grab by 12.9% in the 2nd quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after purchasing an additional 4,595 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Grab by 0.7% during the 2nd quarter. Lake Street Advisors Group LLC now owns 700,455 shares of the company’s stock worth $2,487,000 after buying an additional 5,131 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Grab by 0.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock valued at $3,103,000 after buying an additional 5,317 shares in 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.