Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) has been assigned a consensus rating of “Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.01.
GRAB has been the subject of several research analyst reports. KeyCorp set a $7.00 price objective on Grab in a report on Wednesday, September 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Bank of America reiterated a “buy” rating on shares of Grab in a research report on Friday, September 25th. Zacks Research raised shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Benchmark reissued a “buy” rating on shares of Grab in a report on Tuesday, August 4th.
Read Our Latest Report on Grab
Insider Buying and Selling
In related news, insider Chin Ong sold 38,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $3.09, for a total value of $117,420.00. Following the completion of the sale, the insider owned 3,594,611 shares in the company, valued at approximately $11,107,347.99. This represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate bought 299,571 shares of Grab stock in a transaction dated Monday, September 21st. The stock was acquired at an average price of $2.89 per share, with a total value of $865,760.19. Following the acquisition, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. This represents a 4.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 899,349 shares of company stock worth $3,104,355. Company insiders own 3.60% of the company’s stock.
Hedge Funds Weigh In On Grab
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Grab by 6.4% during the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after purchasing an additional 9,357,389 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after buying an additional 20,152,535 shares during the last quarter. Coronation Fund Managers Ltd. increased its position in Grab by 74.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock worth $119,321,000 after buying an additional 13,919,053 shares during the period. Principal Financial Group Inc. increased its position in Grab by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after buying an additional 2,867,458 shares during the period. Finally, Bank of America Corp DE increased its position in Grab by 80.2% in the 1st quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock worth $87,818,000 after buying an additional 10,681,810 shares during the period. 55.52% of the stock is currently owned by institutional investors.
Grab Stock Performance
Shares of NASDAQ GRAB opened at $2.79 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $3.18 and its two-hundred day moving average price is $3.48. Grab has a 52-week low of $2.74 and a 52-week high of $6.24. The stock has a market capitalization of $11.43 billion, a P/E ratio of 46.51, a P/E/G ratio of 0.49 and a beta of 0.91.
Grab (NASDAQ:GRAB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. As a group, sell-side analysts forecast that Grab will post 0.14 earnings per share for the current year.
About Grab
Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.
Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.
In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.
Read More
- Five stocks we like better than Grab
- Bloom Energy Just Reported—Its Biggest Order Is Still Waiting on a Pipeline
- Why Western Digital’s AI Storage Boom Defies the Chip Sell-Off
- Grand Canyon Education Strengthens Its Outlook, But Wall Street Remains Divided
- Amex Stock Slides on Job Cuts, But the Real Story Is Macro
Receive News & Ratings for Grab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grab and related companies with MarketBeat.com's FREE daily email newsletter.
