Grab (NASDAQ:GRAB) Issues Earnings Results

Grab (NASDAQ:GRAB) issued its earnings results on Monday. The company reported $0.01 earnings per share for the quarter, Zacks reports. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the business earned ($0.02) earnings per share.

Grab Stock Performance

Shares of GRAB stock remained flat at $4.89 during trading hours on Wednesday. 80,191,086 shares of the company’s stock traded hands, compared to its average volume of 24,522,516. The stock has a market capitalization of $19.18 billion, a P/E ratio of -244.50 and a beta of 0.81. Grab has a 52-week low of $2.90 and a 52-week high of $4.93. The stock has a 50-day simple moving average of $3.84 and a 200 day simple moving average of $3.60. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GRAB. Barclays increased their target price on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday. Jefferies Financial Group cut their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Mizuho raised their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI raised their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab currently has an average rating of “Buy” and an average price target of $5.48.

About Grab

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.