Grab (NASDAQ:GRAB – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.
A number of other research analysts have also recently commented on the company. Bank of America reissued a “buy” rating on shares of Grab in a research note on Friday, September 25th. Barclays dropped their price target on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. KeyCorp set a $7.00 price objective on Grab in a research report on Wednesday, September 16th. Finally, Weiss Ratings cut Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $6.11.
Read Our Latest Stock Analysis on Grab
Grab Price Performance
Grab (NASDAQ:GRAB – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The firm had revenue of $997.00 million for the quarter, compared to analysts’ expectations of $994.97 million. On average, equities research analysts anticipate that Grab will post 0.14 earnings per share for the current fiscal year.
Insider Buying and Selling at Grab
In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $3.08, for a total value of $92,400.00. Following the transaction, the insider owned 3,958,735 shares in the company, valued at approximately $12,192,903.80. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate bought 299,571 shares of the stock in a transaction dated Monday, September 21st. The stock was bought at an average cost of $2.89 per share, with a total value of $865,760.19. Following the purchase, the chief operating officer owned 6,411,550 shares in the company, valued at $18,529,379.50. The trade was a 4.90% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 1,219,349 shares of company stock valued at $4,429,355. 3.60% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Grab
Institutional investors and hedge funds have recently bought and sold shares of the stock. Andra AP fonden increased its stake in Grab by 27.6% in the 2nd quarter. Andra AP fonden now owns 1,707,100 shares of the company’s stock worth $6,436,000 after purchasing an additional 369,700 shares during the period. Tidal Investments LLC boosted its stake in shares of Grab by 6.2% during the second quarter. Tidal Investments LLC now owns 487,340 shares of the company’s stock valued at $1,837,000 after purchasing an additional 28,398 shares during the period. National Pension Service boosted its stake in shares of Grab by 40.6% during the second quarter. National Pension Service now owns 217,156 shares of the company’s stock valued at $819,000 after purchasing an additional 62,686 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Grab during the second quarter valued at approximately $621,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Grab in the second quarter worth approximately $59,000. 55.52% of the stock is currently owned by institutional investors.
Grab Company Profile
Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.
The company’s main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.
Further Reading
- Five stocks we like better than Grab
- Skydance Just Became a Media Giant—With an $80 Billion Debt Load
- Could Velo3D Be the Next Defense Buyout Target?
- Penguin Solutions Is Soaring as AI Memory Demand Explodes
- Alphabet’s Chart Is Coiling—and the Fundamentals May Be Ready to Back It Up
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.
