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

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

A number of other analysts have also recently commented on the company. Mizuho upped their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and decreased their target price for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. Finally, Daiwa Capital Markets initiated coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.63.

Grab Stock Down 10.5 %

GRAB stock opened at $4.78 on Thursday. The company has a market cap of $19.25 billion, a price-to-earnings ratio of -239.00, a P/E/G ratio of 2.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The business’s 50-day moving average is $4.77 and its two-hundred day moving average is $4.27. Grab has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. As a group, analysts forecast that Grab will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Uber Technologies Inc bought a new stake in Grab during the 4th quarter valued at about $2,529,462,000. Toyota Motor Corp bought a new stake in shares of Grab during the fourth quarter valued at approximately $1,052,117,000. Wellington Management Group LLP boosted its holdings in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares during the period. Hanwha Asset Management Co. Ltd. purchased a new stake in shares of Grab in the fourth quarter valued at approximately $227,718,000. Finally, Baillie Gifford & Co. grew its stake in Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

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.