Grab Holdings Limited (NASDAQ:GRAB) Stock Has Consensus Price Target of $6.01 According to Analysts

Grab Holdings Limited (NASDAQ:GRAB) has been assigned an average recommendation of “Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $5.91.

Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Benchmark reiterated a “buy” rating on shares of Grab in a report on Tuesday, August 4th. KeyCorp set a $7.00 target price on shares of Grab in a report on Wednesday, September 16th. JPMorgan Chase & Co. dropped their price target on shares of Grab from $5.90 to $4.80 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Zacks Research upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th.

Grab Stock Up 1.1%

Grab stock opened at $2.75 on Thursday. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 0.49 and a beta of 0.91. Grab has a 52 week low of $2.67 and a 52 week high of $6.24. The business’s 50-day moving average price is $3.13 and its 200 day moving average price is $3.66. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business 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 anticipate that Grab will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Wolfgang Kandal sold 30,000 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $3.00, for a total transaction of $90,000.00. Following the sale, the insider owned 3,928,735 shares of the company’s stock, valued at approximately $11,786,205. This represents a 0.76% decrease in their ownership of the stock. The transaction 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, CEO Ping Tan bought 10,350,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were bought at an average cost of $2.89 per share, with a total value of $29,911,500.00. Following the completion of the purchase, the chief executive officer directly owned 10,778,498 shares in the company, valued at $31,149,859.22. This represents a 2,415.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 899,349 shares of company stock valued at $3,104,355 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Grab

A number of institutional investors have recently added to or reduced their stakes in GRAB. Rubicon Global Capital Ltd bought a new stake in Grab during the 3rd quarter valued at $571,000. Asset Management One Co. Ltd. grew its stake in shares of Grab by 10.8% in the third quarter. Asset Management One Co. Ltd. now owns 935,978 shares of the company’s stock worth $2,911,000 after purchasing an additional 91,570 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Grab during the third quarter valued at $132,000. Trueblood Wealth Management LLC increased its holdings in shares of Grab by 10.0% during the third quarter. Trueblood Wealth Management LLC now owns 97,416 shares of the company’s stock valued at $303,000 after purchasing an additional 8,855 shares during the period. Finally, MLP3 LLC acquired a new position in shares of Grab during the third quarter valued at $31,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Company Profile

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.