According to a recent report by Bloomberg Ratings, Grab Holdings Limited (NASDAQ:GRAB) has received an average recommendation of “Moderate Buy” from seven research firms currently covering the company. Out of these firms, one analyst has given a hold recommendation while six have issued a buy recommendation for Grab. The average 12-month price target among these brokerages is $4.69.
On Friday, shares of NASDAQ GRAB opened at $3.43. The company currently has a market capitalization of $12.85 billion and a price-to-earnings ratio of -12.70 with a beta of 0.91. Looking at its performance, Grab’s shares have experienced a one-year low of $2.19 and a high of $4.03.
Grab Holdings Limited operates as a provider of superapps in various Southeast Asian countries including Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Its platform offers various services such as mobility solutions for both drivers and consumers, delivery services, digital financial services, and enterprise sector offerings.
In terms of financial performance, Grab reported earnings results for the quarter ending on August 23rd. The company exceeded analysts’ expectations by reporting ($0.03) earnings per share (EPS), compared to the consensus estimate of ($0.04) EPS. Despite having a negative net margin of 55.26% and a negative return on equity of 16.50%, Grab generated revenue amounting to $567 million during the quarter—surpassing analyst estimates by marking an increase of 76.6% compared to the same period last year.
Looking ahead, research analysts predict that Grab will likely post -0/11 EPS for the current fiscal year.
Please note that this article is based on information available as of September 24th, 2023 and may not reflect any subsequent updates or developments regarding Grab Holdings Limited.
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Insights and Recommendations on Grab Stock: Analysts’ Outlook and Institutional Investor Actions
In the fast-paced world of equities research, analysts play a crucial role in providing investors with valuable insights and recommendations. Recently, several prominent firms have released reports on the stock of Grab, a leading ride-hailing and logistics services provider in Southeast Asia.
Citigroup, known for its comprehensive analysis, has raised the target price on shares of Grab from $4.80 to $5.20. In their research note dated Thursday, August 24th, they maintained their “buy” rating for the stock. Similarly, Benchmark also expressed confidence in Grab’s growth potential by increasing their target price from $4.00 to $6.00 and assigning a “buy” rating.
JPMorgan Chase & Co., on the other hand, adjusted their rating on Grab from an “underweight” to a “neutral” stance. They lifted the target price from $2.55 to $3.10 in their research note published on Wednesday, June 21st. This shift suggests that JPMorgan now sees more stability and value in Grab’s stock.
Evercore ISI further reinforced positive sentiment towards Grab by raising its target price from $5.00 to $7.00 and providing an “outperform” rating in their report dated Thursday, August 24th. Lastly, Barclays updated its rating on Grab from an “equal weight” to an “overweight” level while setting a new price target of $4.50 for the stock.
While these reports offer guidance to individual investors seeking insight into Grab’s performance as a potential investment opportunity, it is important to consider the actions taken by institutional investors and hedge funds as well.
Notable institutional investors have made significant purchases or sales of Grab’s shares in recent periods. For instance, Kore Private Wealth LLC acquired a new stake worth approximately $29,000 during the second quarter of this year.
Commerce Bank also entered the fray by purchasing shares valued at around $31,000 during the first quarter. Stifel Financial Corp followed suit with a new stake worth approximately $33,000 in the same period.
Arena Capital Advisors LLC CA seized an opportunity in Grab’s growth potential by acquiring shares valued at about $35,000 in the first quarter of this year. Envestnet Asset Management Inc., meanwhile, demonstrated confidence in Grab by purchasing shares valued at around $38,000 during the third quarter.
It is noteworthy that hedge funds and institutional investors currently hold 52.50% of Grab’s outstanding stock. This statistic reveals the weightiness of their impact on market movements and investor sentiment.
While these developments indicate positive sentiment towards Grab, investors should exercise careful judgment and conduct thorough research before making any investment decisions. The equities research reports, combined with the actions taken by institutional investors and hedge funds, provide valuable information as part of a broader assessment for anyone interested in navigating the world of stocks effectively.
