Grab Holdings Limited (NASDAQ:GRAB) Receives $5.60 Average Price Target from Brokerages

Shares of Grab Holdings Limited (NASDAQ:GRAB) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $5.60.

A number of research firms recently issued reports on GRAB. Barclays increased their price target on shares of Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and decreased their price target for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Thursday, February 20th.

Grab Stock Performance

Grab stock opened at $5.06 on Friday. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average of $4.48 and a 200-day moving average of $4.69. The firm has a market cap of $20.38 billion, a P/E ratio of -253.00, a P/E/G ratio of 2.26 and a beta of 0.86. Grab has a 1-year low of $2.98 and a 1-year high of $5.72.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Sell-side analysts expect that Grab will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cigna Investments Inc. New increased its position in shares of Grab by 8.7% during the first quarter. Cigna Investments Inc. New now owns 42,426 shares of the company’s stock valued at $192,000 after acquiring an additional 3,388 shares in the last quarter. Royal Bank of Canada increased its position in shares of Grab by 34.8% during the first quarter. Royal Bank of Canada now owns 7,206,698 shares of the company’s stock valued at $32,646,000 after acquiring an additional 1,862,433 shares in the last quarter. DRW Securities LLC increased its position in shares of Grab by 174.8% during the first quarter. DRW Securities LLC now owns 76,285 shares of the company’s stock valued at $346,000 after acquiring an additional 48,521 shares in the last quarter. Titleist Asset Management LLC bought a new stake in shares of Grab during the first quarter valued at approximately $515,000. Finally, Panagora Asset Management Inc. increased its position in shares of Grab by 7.1% during the first quarter. Panagora Asset Management Inc. now owns 346,673 shares of the company’s stock valued at $1,570,000 after acquiring an additional 23,129 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

About Grab

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.