Daiwa Capital Markets Initiates Coverage on Grab (NASDAQ:GRAB)

Analysts at Daiwa Capital Markets assumed coverage on shares of Grab (NASDAQ:GRAB) in a report issued on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $4.60 price target on the stock. Daiwa Capital Markets’ price objective would indicate a potential upside of 11.38% from the company’s previous close.

Several other research firms have also issued reports on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Jefferies Financial Group dropped their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Mizuho assumed coverage on Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and a consensus target price of $4.70.

Grab Stock Performance

GRAB opened at $4.13 on Wednesday. Grab has a 52-week low of $2.90 and a 52-week high of $4.32. The firm has a market capitalization of $16.20 billion, a PE ratio of -59.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The business’s 50-day simple moving average is $3.55 and its 200 day simple moving average is $3.51.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. Grab’s revenue was up 17.1% on a year-over-year basis. As a group, sell-side analysts expect that Grab will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in shares of Grab by 8.1% during the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after purchasing an additional 3,020 shares during the period. Blue Trust Inc. grew its position in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after buying an additional 3,795 shares in the last quarter. Cigna Investments Inc. New grew its position in Grab by 12.9% during the second quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after buying an additional 4,595 shares in the last quarter. Finally, Lake Street Advisors Group LLC grew its position in Grab by 0.7% during the second quarter. Lake Street Advisors Group LLC now owns 700,455 shares of the company’s stock worth $2,487,000 after buying an additional 5,131 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

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.