Grab (NASDAQ:GRAB) Announces Earnings Results

Grab (NASDAQ:GRAB) posted its quarterly earnings data on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. During the same quarter last year, the firm posted ($0.02) earnings per share.

Grab Stock Performance

NASDAQ GRAB traded up $0.51 during trading hours on Tuesday, reaching $4.89. The company’s stock had a trading volume of 148,522,912 shares, compared to its average volume of 24,245,191. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $3.58. Grab has a 52 week low of $2.90 and a 52 week high of $4.93. The stock has a market cap of $19.18 billion, a PE ratio of -96.00 and a beta of 0.81.

Analysts Set New Price Targets

GRAB has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday. Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday. Jefferies Financial Group reduced their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Daiwa Capital Markets initiated coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $5.28.

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.