Grab (NASDAQ:GRAB) Sets New 1-Year High – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB) reached a new 52-week high on Monday . The company traded as high as $3.88 and last traded at $3.87, with a volume of 13603242 shares changing hands. The stock had previously closed at $3.73.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GRAB shares. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Jefferies Financial Group lowered their price target on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Mizuho started coverage on Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $4.71.

Grab Stock Performance

The stock has a 50-day moving average of $3.48 and a 200 day moving average of $3.49. The firm has a market capitalization of $15.81 billion, a P/E ratio of -57.71 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.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, August 15th. The company reported ($0.01) 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 company had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, research analysts anticipate that Grab Holdings Limited will post -0.04 earnings per share for the current year.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. Virtu Financial LLC bought a new stake in shares of Grab during the fourth quarter valued at approximately $191,000. Goldman Sachs Group Inc. increased its stake in shares of Grab by 1.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock valued at $25,774,000 after buying an additional 126,365 shares during the period. Wellington Management Group LLP raised its position in shares of Grab by 21,347.2% during the fourth quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock worth $22,660,000 after acquiring an additional 6,692,769 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Grab by 33.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 55,789 shares of the company’s stock valued at $188,000 after acquiring an additional 14,015 shares during the period. Finally, Vanguard Capital Wealth Advisors boosted its holdings in Grab by 288.5% in the first quarter. Vanguard Capital Wealth Advisors now owns 224,935 shares of the company’s stock valued at $706,000 after acquiring an additional 167,035 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

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.