Grab’s (GRAB) “Buy” Rating Reiterated at Benchmark

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

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group cut their price objective on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $5.48.

Grab Stock Performance

Shares of GRAB traded down $0.03 during mid-day trading on Tuesday, hitting $4.70. 21,025,111 shares of the company’s stock were exchanged, compared to its average volume of 24,585,615. Grab has a 52 week low of $2.90 and a 52 week high of $4.93. The company has a 50-day simple moving average of $3.87 and a 200 day simple moving average of $3.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period last year, the business earned ($0.02) EPS. On average, equities research analysts anticipate that Grab will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GRAB. Dorsey & Whitney Trust CO LLC bought a new position in Grab in the first quarter valued at about $32,000. Blue Trust Inc. grew its position in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC bought a new position in Grab in the second quarter valued at about $38,000. Traynor Capital Management Inc. bought a new position in Grab in the third quarter valued at about $41,000. Finally, Prospect Financial Services LLC bought a new position in Grab in the second quarter valued at about $53,000. Institutional investors 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.