Grab Holdings Limited (NASDAQ:GRAB) Receives $6.47 Consensus Target Price from Analysts

Grab Holdings Limited (NASDAQ:GRAB) has been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $6.4714.

A number of brokerages have recently commented on GRAB. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a report on Thursday, January 22nd. Mizuho set a $7.00 price objective on shares of Grab in a research report on Tuesday, November 4th. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Thursday, February 12th. Wall Street Zen upgraded shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Barclays raised their price target on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th.

Grab Stock Down 0.5%

Shares of NASDAQ GRAB opened at $4.38 on Friday. The business has a 50-day moving average price of $4.66 and a 200 day moving average price of $5.23. The stock has a market cap of $17.64 billion, a PE ratio of 146.05, a price-to-earnings-growth ratio of 1.03 and a beta of 0.92. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Grab has a 52-week low of $3.36 and a 52-week high of $6.62.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a return on equity of 4.09% and a net margin of 7.92%. Equities research analysts forecast that Grab will post 0.05 earnings per share for the current year.

Institutional Investors Weigh In On Grab

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Grab in the 2nd quarter valued at $175,192,000. PointState Capital LP raised its position in Grab by 411.1% during the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after buying an additional 26,186,329 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after acquiring an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Grab by 173.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after acquiring an additional 22,038,961 shares during the period. Finally, Citigroup Inc. boosted its holdings in shares of Grab by 112.6% in the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after acquiring an additional 17,160,661 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.