Benchmark Reaffirms Buy Rating for Grab (NASDAQ:GRAB)

Benchmark reissued their buy rating on shares of Grab (NASDAQ:GRAB) in a research report sent to investors on Thursday,Benzinga reports. Benchmark currently has a $6.00 price target on the stock.

A number of other brokerages have also recently issued reports on GRAB. Mizuho boosted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Barclays increased their price objective on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. JPMorgan Chase & Co. downgraded Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Finally, Evercore ISI lifted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Stock Performance

NASDAQ:GRAB opened at $4.90 on Thursday. The firm has a 50-day moving average price of $4.76 and a two-hundred day moving average price of $4.29. The company has a market capitalization of $19.73 billion, a P/E ratio of -245.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab has a twelve month low of $2.98 and a twelve month high of $5.72.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. As a group, research analysts expect that Grab will post 0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GRAB. Ellevest Inc. lifted its position in shares of Grab by 3.3% during the 4th quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock valued at $391,000 after acquiring an additional 2,636 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the period. FNY Investment Advisers LLC increased its stake in Grab by 13.9% in the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock worth $135,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Wedbush Securities Inc. raised its holdings in Grab by 19.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock worth $103,000 after buying an additional 3,500 shares during the period. Institutional investors and hedge funds 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.