Analysts Set Grab Holdings Limited (NASDAQ:GRAB) Target Price at $6.01

Shares of Grab Holdings Limited (NASDAQ:GRAB) have been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.0056.

Several equities analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Mizuho dropped their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research report on Monday, August 3rd.

Grab Price Performance

GRAB opened at $3.61 on Friday. Grab has a one year low of $3.18 and a one year high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The company’s 50 day simple moving average is $3.59 and its 200-day simple moving average is $3.79. The stock has a market capitalization of $14.79 billion, a P/E ratio of 60.18, a price-to-earnings-growth ratio of 0.98 and a beta of 0.89.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. Sell-side analysts anticipate that Grab will post 0.13 earnings per share for the current fiscal year.

Insider Activity at Grab

In related news, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total value of $497,120.85. Following the transaction, the chief operating officer directly owned 6,254,023 shares in the company, valued at $21,576,379.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $3.62, for a total transaction of $1,448,000.00. Following the completion of the transaction, the chief executive officer directly owned 428,498 shares in the company, valued at approximately $1,551,162.76. The trade was a 48.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,666,093 shares of company stock worth $6,064,081 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Institutional investors and hedge funds have recently made changes to their positions in the business. Pitcairn Co. lifted its stake in Grab by 11.0% in the second quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after buying an additional 2,080 shares during the period. Adalta Capital Management LLC boosted its holdings in Grab by 2.2% during the third quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock worth $607,000 after buying an additional 2,200 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Grab by 7.7% during the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after buying an additional 2,300 shares during the last quarter. Soros Fund Management LLC grew its position in shares of Grab by 19.7% during the 2nd quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock worth $74,000 after buying an additional 2,419 shares during the period. Finally, Corient Private Wealth LLC grew its position in shares of Grab by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock worth $643,000 after buying an additional 2,469 shares during the period. Institutional investors own 55.52% of the company’s stock.

Grab Company Profile

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.