Brokerages Set Grab Holdings Limited (NASDAQ:GRAB) Target Price at $6.01

Grab Holdings Limited (NASDAQ:GRAB) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.0056.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Morgan Stanley reissued an “overweight” rating and set a $6.25 target price on shares of Grab in a research note on Tuesday, June 30th. Barclays reduced their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Finally, Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd.

Insider Activity

In other news, insider Chin Ong sold 38,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $3.61, for a total value of $137,180.00. Following the transaction, the insider owned 3,670,611 shares in the company, valued at $13,250,905.71. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate sold 145,349 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $3.48, for a total transaction of $505,814.52. Following the completion of the sale, the chief operating officer directly owned 6,111,979 shares of the company’s stock, valued at $21,269,686.92. This trade represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,725,442 shares of company stock worth $6,275,155. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Grab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Grab during the 4th quarter valued at $25,000. Parallel Advisors LLC raised its holdings in shares of 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 acquiring an additional 4,601 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Grab during the third quarter worth $38,000. Larson Financial Group LLC raised its holdings in shares of Grab by 162,500.0% during the third 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. Finally, Advocate Investing Services LLC acquired a new stake in Grab during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

Shares of GRAB opened at $3.42 on Wednesday. The business’s 50-day moving average price is $3.62 and its 200 day moving average price is $3.70. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $14.01 billion, a P/E ratio of 57.01, a P/E/G ratio of 0.90 and a beta of 0.89. Grab has a 1-year low of $3.18 and a 1-year high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The company had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Analysts expect that Grab will post 0.13 earnings per share for the current year.

About Grab

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.