Grab (NASDAQ:GRAB) Posts Quarterly Earnings Results

Grab (NASDAQ:GRAB) posted its quarterly earnings results on Monday. The company reported $0.01 EPS for the quarter, Zacks reports. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share.

Grab Stock Performance

NASDAQ:GRAB traded up $0.51 during mid-day trading on Tuesday, hitting $4.89. 148,522,912 shares of the company traded hands, compared to its average volume of 24,245,191. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $3.78 and its 200-day moving average price is $3.58. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of -96.00 and a beta of 0.81. Grab has a one year low of $2.90 and a one year high of $4.93.

Wall Street Analyst Weigh In

A number of research firms have commented on GRAB. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. JPMorgan Chase & Co. boosted their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI raised their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group decreased their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $5.28.

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.