Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $4.69.
Several analysts have recently issued reports on the company. Citigroup upped their price target on Grab from $4.80 to $5.20 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Evercore ISI upped their price objective on shares of Grab from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Benchmark lifted their target price on shares of Grab from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Finally, Barclays upgraded shares of Grab from an “equal weight” rating to an “overweight” rating and set a $4.50 price target for the company in a report on Thursday, August 24th.
Grab Price Performance
Grab (NASDAQ:GRAB – Get Free Report) last issued its earnings results on Thursday, November 9th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The business had revenue of $615.00 million during the quarter, compared to analyst estimates of $594.99 million. Grab had a negative net margin of 38.75% and a negative return on equity of 13.12%. Grab’s revenue for the quarter was up 61.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. Equities analysts expect that Grab will post -0.1 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Grab
A number of institutional investors have recently modified their holdings of GRAB. abrdn plc raised its stake in shares of Grab by 6.6% during the first quarter. abrdn plc now owns 286,321 shares of the company’s stock worth $862,000 after buying an additional 17,619 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Grab by 79.7% in the 2nd quarter. Mackenzie Financial Corp now owns 328,208 shares of the company’s stock valued at $1,126,000 after purchasing an additional 145,593 shares during the period. Korea Investment CORP boosted its position in shares of Grab by 215.1% in the 1st quarter. Korea Investment CORP now owns 7,565,670 shares of the company’s stock worth $22,773,000 after purchasing an additional 5,164,987 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Grab during the first quarter worth $524,000. Finally, SG Americas Securities LLC increased its holdings in Grab by 104.0% in the second quarter. SG Americas Securities LLC now owns 2,597,671 shares of the company’s stock valued at $8,910,000 after purchasing an additional 1,324,511 shares during the last quarter. 52.50% of the stock is owned by institutional investors.
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.
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