Grab Holdings Limited (NASDAQ:GRAB) Given Consensus Rating of “Moderate Buy” by Brokerages

Posted by Defense World Staff on Jun 8th, 2023

Grab Holdings Limited (NASDAQ:GRAB – Get Rating) has received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $3.92.

A number of equities analysts have recently weighed in on GRAB shares. HSBC increased their target price on Grab from $4.03 to $4.20 in a research note on Friday, May 19th. Citigroup reduced their target price on Grab from $5.00 to $4.80 and set a “buy” rating on the stock in a report on Friday, April 21st. Benchmark began coverage on Grab in a research note on Thursday, April 20th. They issued a “buy” rating and a $4.00 price target for the company. Macquarie began coverage on Grab in a research report on Monday, March 13th. They set an “outperform” rating and a $4.00 target price for the company. Finally, Loop Capital lowered their price objective on Grab from $5.00 to $4.00 in a research report on Wednesday, April 12th.

Grab Price Performance

NASDAQ:GRAB opened at $3.24 on Thursday. The company has a quick ratio of 5.34, a current ratio of 5.39 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $3.02 and its two-hundred day moving average price is $3.17. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of -8.31 and a beta of 0.77. Grab has a 12-month low of $2.19 and a 12-month high of $4.03.

Grab (NASDAQ:GRAB – Get Rating) last released its quarterly earnings data on Thursday, May 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $505.00 million. Grab had a negative return on equity of 22.08% and a negative net margin of 86.94%. The business’s revenue for the quarter was up 130.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, analysts anticipate that Grab will post -0.17 earnings per share for the current year.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Macquarie Group Ltd. grew its holdings in shares of Grab by 27.5% in the first quarter. Macquarie Group Ltd. now owns 1,596,704 shares of the company’s stock valued at $4,806,000 after acquiring an additional 344,465 shares in the last quarter. Pinpoint Asset Management Ltd bought a new position in shares of Grab in the first quarter valued at approximately $424,000. State Street Corp grew its holdings in shares of Grab by 1.9% in the first quarter. State Street Corp now owns 24,429,935 shares of the company’s stock valued at $73,531,000 after acquiring an additional 448,190 shares in the last quarter. Fullerton Fund Management Co Ltd. grew its holdings in shares of Grab by 683.0% in the first quarter. Fullerton Fund Management Co Ltd. now owns 22,247,260 shares of the company’s stock valued at $66,964,000 after acquiring an additional 19,405,959 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Grab by 1.3% in the first quarter. Geode Capital Management LLC now owns 11,148,701 shares of the company’s stock valued at $33,231,000 after acquiring an additional 141,867 shares in the last quarter. 46.57% of the stock is owned by institutional investors.

Grab Company Profile

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Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.