Benchmark Reaffirms Buy Rating for Grab (NASDAQ:GRAB)

Benchmark reiterated their buy rating on shares of Grab (NASDAQ:GRAB) in a research report report published on Monday morning, Benzinga reports. Benchmark currently has a $6.00 price target on the stock.

Several other equities research analysts also recently commented on the stock. Barclays lowered their target price on shares of Grab from $4.50 to $4.30 and set an overweight rating for the company in a research note on Monday, February 5th. HSBC restated a buy rating and issued a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upgraded shares of Grab from a neutral rating to an overweight rating and raised their target price for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of $5.10.

Grab Trading Up 1.4 %

Shares of NASDAQ GRAB opened at $3.55 on Monday. Grab has a fifty-two week low of $2.67 and a fifty-two week high of $3.92. The firm has a market capitalization of $13.93 billion, a P/E ratio of -35.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. The company’s 50 day simple moving average is $3.29 and its 200 day simple moving average is $3.23.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, beating the consensus estimate 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 company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $633.82 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, analysts predict that Grab will post 0.01 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in shares of Grab by 19.6% in the third quarter. Raymond James & Associates now owns 83,774 shares of the company’s stock valued at $297,000 after purchasing an additional 13,709 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Grab by 5.8% during the 3rd quarter. Mackenzie Financial Corp now owns 347,148 shares of the company’s stock worth $1,163,000 after acquiring an additional 18,940 shares during the period. Advisor Partners II LLC increased its stake in shares of Grab by 103.9% in the 3rd quarter. Advisor Partners II LLC now owns 23,896 shares of the company’s stock valued at $85,000 after acquiring an additional 12,175 shares in the last quarter. Sage Rhino Capital LLC acquired a new position in shares of Grab during the third quarter valued at about $38,000. Finally, Cable Hill Partners LLC acquired a new stake in shares of Grab in the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.