Daiwa Capital Markets Initiates Coverage on Grab (NASDAQ:GRAB)

Daiwa Capital Markets initiated coverage on shares of Grab (NASDAQ:GRAB) in a report published on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $4.60 price objective on the stock.

A number of other research firms have also weighed in on GRAB. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Mizuho began coverage on Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $4.70.

Grab Stock Down 1.5 %

Shares of NASDAQ GRAB opened at $4.07 on Wednesday. Grab has a one year low of $2.90 and a one year high of $4.32. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The firm’s 50 day simple moving average is $3.57 and its two-hundred day simple moving average is $3.52. The stock has a market capitalization of $15.97 billion, a P/E ratio of -58.14 and a beta of 0.83.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share. As a group, analysts expect that Grab will post -0.04 EPS for the current fiscal year.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after buying an additional 3,163,309 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in shares of Grab by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after buying an additional 590,580 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Grab by 43.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after buying an additional 1,555,579 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Grab by 17.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after buying an additional 133,531 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Grab by 30.1% during the 2nd quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company’s stock valued at $13,479,000 after buying an additional 878,375 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.