Grab (NASDAQ:GRAB) Posts Earnings Results, Beats Expectations By $0.01 EPS

Grab (NASDAQ:GRAB) released its quarterly earnings results on Tuesday. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01, Zacks reports. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 9.03%.

Grab Trading Down 2.3%

Shares of Grab stock opened at $3.65 on Thursday. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 60.93, a price-to-earnings-growth ratio of 1.43 and a beta of 0.89. Grab has a 52-week low of $3.18 and a 52-week high of $6.62. The company’s 50-day simple moving average is $3.58 and its 200-day simple moving average is $3.82. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GRAB. Benchmark reissued a “buy” rating on shares of Grab in a research note on Tuesday. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley reissued an “overweight” rating and set a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. Barclays cut their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.

Insider Transactions at Grab

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.53, for a total value of $176,500.00. Following the sale, the chief financial officer owned 6,950,165 shares of the company’s stock, valued at approximately $24,534,082.45. The trade was a 0.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00. Following the transaction, the chief executive officer owned 28,498 shares in the company, valued at $111,427.18. The trade was a 93.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,666,093 shares of company stock valued at $6,084,081 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after buying an additional 4,601 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Grab in the 3rd quarter worth about $38,000. Larson Financial Group LLC lifted its stake in Grab by 162,500.0% in the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after acquiring an additional 6,500 shares in the last quarter. Advocate Investing Services LLC acquired a new stake in Grab during the 4th quarter worth about $35,000. Finally, Sunbelt Securities Inc. boosted its position in Grab by 624.7% during the 4th quarter. Sunbelt Securities Inc. now owns 7,522 shares of the company’s stock worth $38,000 after acquiring an additional 6,484 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

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.