Grab (NASDAQ:GRAB) Receives Buy Rating from Benchmark

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reaffirmed by stock analysts at Benchmark in a note issued to investors on Monday, Benzinga reports. They presently have a $6.00 target price on the stock. Benchmark’s price objective would indicate a potential upside of 71.43% from the stock’s current price.

A number of other brokerages also recently commented on GRAB. HSBC reaffirmed a “buy” rating and set a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Barclays dropped their price target on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.60 to $3.80 in a research report on Thursday, January 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $5.10.

Grab Price Performance

Shares of GRAB stock opened at $3.50 on Monday. 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 firm’s 50-day moving average is $3.27 and its two-hundred day moving average is $3.23. Grab has a 12 month low of $2.67 and a 12 month high of $3.92. The company has a market capitalization of $13.73 billion, a PE ratio of -35.00 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $633.82 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. Grab’s quarterly revenue was up 30.1% compared to the same quarter last year. Analysts predict that Grab will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. PFG Investments LLC purchased a new position in Grab in the first quarter worth approximately $31,000. Miracle Mile Advisors LLC purchased a new position in Grab in the first quarter worth approximately $32,000. Callan Capital LLC purchased a new position in Grab in the first quarter worth approximately $34,000. Optas LLC purchased a new position in Grab in the fourth quarter worth approximately $36,000. Finally, Meridian Wealth Partners LLC purchased a new position in Grab in the fourth quarter worth approximately $36,000. 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.