Analysts Set Grab Holdings Limited (NASDAQ:GRAB) Price Target at $6.37

Shares of Grab Holdings Limited (NASDAQ:GRAB) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $6.3714.

Several equities research analysts have recently commented on GRAB shares. HSBC restated a “hold” rating and issued a $6.20 price objective on shares of Grab in a research note on Wednesday, September 17th. Wall Street Zen cut Grab from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Benchmark lifted their price objective on Grab from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Finally, Barclays raised their target price on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Invesco Ltd. increased its stake in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after buying an additional 15,916,063 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Grab by 20.8% in the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock worth $304,092,000 after acquiring an additional 10,428,014 shares during the period. State Street Corp grew its position in shares of Grab by 1.8% during the second quarter. State Street Corp now owns 43,322,397 shares of the company’s stock worth $217,912,000 after purchasing an additional 759,696 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Grab by 13.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock valued at $200,422,000 after purchasing an additional 4,710,420 shares during the period. Finally, PointState Capital LP raised its stake in Grab by 50.6% during the 1st quarter. PointState Capital LP now owns 35,148,819 shares of the company’s stock valued at $159,224,000 after purchasing an additional 11,804,514 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Price Performance

NASDAQ GRAB opened at $5.15 on Friday. The company has a 50-day moving average price of $5.41 and a 200-day moving average price of $5.35. Grab has a 52 week low of $3.36 and a 52 week high of $6.62. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $20.74 billion, a P/E ratio of 128.78 and a beta of 0.89.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). Grab had a net margin of 3.81% and a return on equity of 1.91%. The business had revenue of $873.00 million for the quarter, compared to the consensus estimate of $870.44 million. Equities research analysts anticipate that Grab will post 0.05 earnings per share for the current year.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.