Grab (NASDAQ:GRAB) Hits New 12-Month High at $3.77

Grab Holdings Limited (NASDAQ:GRAB) shares hit a new 52-week high on Wednesday . The company traded as high as $3.77 and last traded at $3.77, with a volume of 13789330 shares. The stock had previously closed at $3.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Mizuho initiated coverage on shares of Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab has an average rating of “Buy” and a consensus target price of $4.71.

Grab Stock Up 2.4 %

The company’s 50-day moving average price is $3.34 and its 200 day moving average price is $3.42. The stock has a market cap of $14.87 billion, a PE ratio of -53.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.

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

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC bought a new position in shares of Grab during the 1st quarter valued at approximately $32,000. Dorsey & Whitney Trust CO LLC purchased a new position in Grab in the first quarter valued at about $32,000. Callan Capital LLC acquired a new stake in Grab in the first quarter worth about $34,000. Sage Rhino Capital LLC acquired a new stake in Grab in the second quarter worth about $38,000. Finally, Lane & Associates LLC acquired a new stake in shares of Grab during the first quarter worth about $39,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

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.