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

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reissued by Benchmark in a note issued to investors on Thursday,Benzinga reports. They presently have a $6.00 price target on the stock. Benchmark’s price objective would suggest a potential upside of 19.33% from the stock’s current price.

A number of other analysts have also commented on the stock. JPMorgan Chase & Co. lowered shares of Grab from an “overweight” rating to a “neutral” rating in a research report on Wednesday, February 5th. Mizuho lifted their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Finally, Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.54.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $5.03 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab has a twelve month low of $2.98 and a twelve month high of $5.72. The firm has a market cap of $20.25 billion, a PE ratio of -252.25, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90. The business has a fifty day moving average of $4.78 and a 200-day moving average of $4.26.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. On average, equities research analysts predict that Grab will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GRAB. Blue Trust Inc. grew its stake in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Assenagon Asset Management S.A. increased its holdings in Grab by 129.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock worth $30,700,000 after purchasing an additional 4,557,800 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the third quarter worth approximately $41,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after purchasing an additional 4,725 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its position in shares of Grab by 25.7% during the third quarter. New York State Common Retirement Fund now owns 7,777,606 shares of the company’s stock valued at $29,555,000 after buying an additional 1,588,169 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.