Grab Holdings Limited (NASDAQ:GRAB) Receives Average Rating of “Buy” from Brokerages

Grab Holdings Limited (NASDAQ:GRAB) has received a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $6.5833.

A number of research analysts recently issued reports on GRAB shares. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective for the company in a report on Friday, January 16th. Wall Street Zen raised shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. Barclays increased their price objective on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Finally, Benchmark raised their target price on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th.

Grab Trading Up 0.7%

NASDAQ GRAB opened at $4.58 on Tuesday. The company has a market cap of $18.44 billion, a price-to-earnings ratio of 114.53 and a beta of 0.90. Grab has a twelve month low of $3.36 and a twelve month high of $6.62. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average is $5.02 and its 200 day moving average is $5.35.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, November 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Grab had a net margin of 3.81% and a return on equity of 1.91%. The firm had revenue of $873.00 million during the quarter, compared to the consensus estimate of $870.44 million. As a group, sell-side analysts expect that Grab will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Grab by 66.5% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,770,976 shares of the company’s stock valued at $64,782,000 after buying an additional 4,302,224 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Grab by 15.7% during the third quarter. Nordea Investment Management AB now owns 19,886,007 shares of the company’s stock worth $120,509,000 after acquiring an additional 2,695,472 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in shares of Grab in the 3rd quarter worth about $1,204,000. Alberta Investment Management Corp bought a new position in Grab in the 2nd quarter valued at about $1,215,000. Finally, Hsbc Holdings PLC lifted its position in Grab by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 7,935,800 shares of the company’s stock valued at $39,931,000 after acquiring an additional 949,297 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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.