Daiwa Capital Markets Initiates Coverage on Grab (NASDAQ:GRAB)

Daiwa Capital Markets assumed coverage on shares of Grab (NASDAQ:GRAB) in a report issued on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $4.60 target price on the stock.

Several other equities analysts have also issued reports on GRAB. Mizuho assumed coverage on Grab in a research report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Jefferies Financial Group decreased their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab currently has an average rating of “Buy” and an average price target of $4.70.

Grab Price Performance

GRAB opened at $4.07 on Wednesday. The stock has a 50-day moving average price of $3.57 and a 200-day moving average price of $3.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The firm has a market cap of $15.97 billion, a PE ratio of -58.14 and a beta of 0.83. Grab has a 1 year low of $2.90 and a 1 year high of $4.32.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. Grab’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. Sell-side analysts predict that Grab will post -0.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grab

Several hedge funds and other institutional investors have recently made changes to their positions in GRAB. Miracle Mile Advisors LLC purchased a new stake in shares of Grab during the 1st quarter valued at about $32,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Grab during the 1st quarter valued at about $32,000. Callan Capital LLC purchased a new stake in shares of Grab during the 1st quarter valued at about $34,000. Blue Trust Inc. increased its position in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares during the last quarter. Finally, Sage Rhino Capital LLC bought a new position in shares of Grab during the 2nd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.