Benchmark Issues Positive Forecast for Grab (NASDAQ:GRAB) Stock Price

Grab (NASDAQ:GRAB) had its target price lifted by stock analysts at Benchmark from $6.00 to $7.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Benchmark’s target price would suggest a potential upside of 23.78% from the company’s previous close.

GRAB has been the topic of a number of other reports. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. HSBC restated a “hold” rating and set a $6.20 price objective on shares of Grab in a research note on Wednesday, September 17th. Jefferies Financial Group restated a “buy” rating and set a $7.00 price objective on shares of Grab in a research note on Tuesday. Finally, Hsbc Global Res cut shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.28.

Grab Stock Performance

GRAB stock traded down $0.42 during mid-day trading on Tuesday, reaching $5.66. The company had a trading volume of 51,559,587 shares, compared to its average volume of 39,653,043. The company has a quick ratio of 1.87, a current ratio of 1.88 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $22.77 billion, a P/E ratio of 141.41 and a beta of 0.88. Grab has a one year low of $3.36 and a one year high of $6.62. The stock’s 50-day simple moving average is $5.80 and its two-hundred day simple moving average is $5.23.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 10th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a return on equity of 1.75% and a net margin of 3.65%. Research analysts anticipate that Grab will post 0.05 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new position in Grab during the second quarter worth about $33,000. Summit Securities Group LLC grew its holdings in Grab by 63.6% during the first quarter. Summit Securities Group LLC now owns 8,229 shares of the company’s stock worth $37,000 after acquiring an additional 3,199 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Grab by 51.2% during the second quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock worth $39,000 after acquiring an additional 2,634 shares during the period. Proficio Capital Partners LLC acquired a new position in Grab during the first quarter worth about $45,000. Finally, Prospera Financial Services Inc acquired a new position in Grab during the second quarter worth about $50,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Company Profile

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.