In the last trading session, 11.74 million Grab Holdings Limited (NASDAQ:GRAB) shares changed hands as the company’s beta touched 0.91. With the company’s per share price at $3.53 changed hands at -$0.02 or -0.56% during last session, the market valuation stood at $13.63B. GRAB’s last price was a discount, traded about -14.16% off its 52-week high of $4.03. The share price had its 52-week low at $2.19, which suggests the last value was 37.96% up since then. When we look at Grab Holdings Limited’s average trading volume, we note the 10-day average is 22.95 million shares, with the 3-month average coming to 18.39 million.
Analysts gave the Grab Holdings Limited (GRAB) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 1 out of 26 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 2 recommended GRAB as a Hold, 20 felt it is a Buy and 1 rated the stock as Underweight. Grab Holdings Limited’s EPS for the current quarter is expected to be -$0.02.
Grab Holdings Limited (NASDAQ:GRAB) trade information
Instantly GRAB was in red as seen at the end of in last trading. With action -5.61%, the performance over the past five days has been red. The drop to weekly highs of 3.82 on Monday, 09/18/23 subtracted -0.56% to the stock’s daily price. The company’s shares are showing year-to-date upside of 9.63%, with the 5-day performance at -5.61% in the red. However, in the 30-day time frame, Grab Holdings Limited (NASDAQ:GRAB) is 8.28% up. Looking at the short shares, we see there were 106.63 million shares sold at short interest cover period of 5.78 days.
The consensus price target for the stock as assigned by Wall Street analysts is $4.64, meaning bulls need an upside of 23.92% from its current market value. According to analyst projections, GRAB’s forecast low is $3.16 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -98.3% plunge from its current level, while the stock would need to tank 10.48% for it to hit the projected low.
Grab Holdings Limited (GRAB) estimates and forecasts
Data shows that the Grab Holdings Limited share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 23.43% over the past 6 months, a 75.00% in annual growth rate that is considerably higher than the industry average of 17.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Grab Holdings Limited will rise 75.00%, while the growth in revenue is estimated to hit 90.00% for the next quarter. Year-over-year growth is forecast to reach 61.30% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $586.29 million. 4 analysts are of the opinion that Grab Holdings Limited’s revenue for the quarter ending Dec 2023 will be $626.54 million. The company’s revenue for the corresponding quarters a year ago was $382 million and $502 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 53.50%. The estimates for the next quarter sales put growth at 24.80%.
The 2023 estimates are for Grab Holdings Limited earnings to increase by 52.10%.
Grab Holdings Limited is expected to release its next quarterly earnings report on September 13.
Grab Holdings Limited (NASDAQ:GRAB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 27.20% of Grab Holdings Limited shares while 54.57% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 74.97%. There are 54.57% institutions holding the Grab Holdings Limited stock share, with SB Investment Advisers (UK) LTD the top institutional holder. As of Jun 29, 2023, the company held 18.98% of the shares, roughly 709.27 million GRAB shares worth $2.43 billion.
Morgan Stanley holds the second largest percentage of outstanding shares, with 7.72% or 288.42 million shares worth $989.28 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Europacific Growth Fund and New World Fund, Inc. With 70.87 million shares estimated at $243.08 million under it, the former controlled 1.90% of total outstanding shares. On the other hand, New World Fund, Inc. held about 1.58% of the shares, roughly 58.92 million shares worth around $202.09 million.