Benchmark Reiterates “Buy” Rating for Grab (NASDAQ:GRAB)

Grab (NASDAQ:GRAB)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a research note issued on Thursday,Benzinga reports. They presently have a $6.00 price objective on the stock. Benchmark’s price objective suggests a potential upside of 19.33% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and reduced their price objective for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut Grab from an “overweight” rating to a “neutral” rating in a research note on Wednesday, February 5th. Finally, Mizuho upped their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.54.

Grab Stock Down 5.8 %

GRAB opened at $5.03 on Thursday. The company has a 50 day moving average of $4.78 and a 200 day moving average of $4.26. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab has a 12 month low of $2.98 and a 12 month high of $5.72. The company has a market cap of $20.25 billion, a PE ratio of -252.25, a price-to-earnings-growth ratio of 2.21 and a beta of 0.90.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. On average, sell-side analysts expect that Grab will post -0.02 EPS for the current year.

Hedge Funds Weigh In On Grab

A number of large investors have recently made changes to their positions in GRAB. Public Employees Retirement System of Ohio increased its stake in Grab by 2,646.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 5,028,596 shares of the company’s stock worth $23,735,000 after purchasing an additional 4,845,496 shares during the period. JT Stratford LLC purchased a new position in Grab during the fourth quarter valued at approximately $286,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Grab by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,582,517 shares of the company’s stock worth $68,829,000 after buying an additional 2,120,034 shares in the last quarter. USS Investment Management Ltd bought a new stake in Grab during the 4th quarter valued at $3,109,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Grab in the 4th quarter worth $41,125,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.