Grab (NASDAQ:GRAB) Announces Quarterly Earnings Results

Grab (NASDAQ:GRAB) issued its quarterly earnings data on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02), Zacks reports. Grab had a return on equity of 1.75% and a net margin of 3.65%.

Grab Stock Performance

Shares of NASDAQ:GRAB traded down $0.42 during trading on Tuesday, hitting $5.66. The company’s stock had a trading volume of 77,103,964 shares, compared to its average volume of 39,788,539. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.87. The firm has a market cap of $22.77 billion, a price-to-earnings ratio of 141.41 and a beta of 0.88. The company has a 50-day moving average of $5.80 and a 200-day moving average of $5.23. Grab has a 12 month low of $3.36 and a 12 month high of $6.62.

Institutional Investors Weigh In On Grab

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its holdings in Grab by 28.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 22,546,843 shares of the company’s stock valued at $113,411,000 after buying an additional 5,021,836 shares in the last quarter. Man Group plc grew its holdings in shares of Grab by 64.8% in the second quarter. Man Group plc now owns 8,654,877 shares of the company’s stock valued at $43,534,000 after purchasing an additional 3,403,381 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Grab by 79.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 3,142,737 shares of the company’s stock worth $15,808,000 after purchasing an additional 1,394,500 shares during the last quarter. Moore Capital Management LP purchased a new stake in Grab during the second quarter valued at $6,747,000. Finally, The Manufacturers Life Insurance Company lifted its position in Grab by 131.6% during the second quarter. The Manufacturers Life Insurance Company now owns 2,306,171 shares of the company’s stock valued at $11,600,000 after purchasing an additional 1,310,450 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GRAB has been the subject of several research reports. HSBC restated a “hold” rating and set a $6.20 price objective on shares of Grab in a research report on Wednesday, September 17th. Jefferies Financial Group reissued a “buy” rating and issued a $7.00 price objective on shares of Grab in a research note on Tuesday. Hsbc Global Res cut shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Finally, Benchmark boosted their price objective on shares of Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.28.

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.