Benchmark Reiterates Buy Rating for Grab (NASDAQ:GRAB)

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a research note issued on Monday, Benzinga reports. They currently have a $6.00 price target on the stock. Benchmark’s price target points to a potential upside of 71.43% from the company’s previous close.

GRAB has been the topic of several other research reports. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $3.60 to $3.80 in a research note on Thursday, January 18th. HSBC restated a “buy” rating and set a $4.30 price objective on shares of Grab in a research report on Thursday, April 4th. Finally, Barclays decreased their price objective on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $5.10.

Grab Trading Down 0.8 %

Shares of Grab stock opened at $3.50 on Monday. The company’s fifty day simple moving average is $3.27 and its 200-day simple moving average is $3.23. The stock has a market capitalization of $13.73 billion, a PE ratio of -35.00 and a beta of 0.81. Grab has a 1-year low of $2.67 and a 1-year high of $3.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. As a group, equities analysts anticipate that Grab will post 0.01 earnings per share for the current year.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PFG Investments LLC purchased a new position in shares of Grab during the first quarter valued at about $31,000. Miracle Mile Advisors LLC purchased a new position in Grab during the 1st quarter valued at approximately $32,000. Callan Capital LLC bought a new stake in Grab in the 1st quarter worth approximately $34,000. Optas LLC purchased a new stake in shares of Grab during the 4th quarter worth approximately $36,000. Finally, Meridian Wealth Partners LLC bought a new position in shares of Grab during the 4th quarter valued at approximately $36,000. 55.52% of the stock is currently 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.