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Grab Holdings Limited (GRAB) Increases Yet Falls Behind Market: What Investors Need to Know
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In the latest trading session, Grab Holdings Limited (GRAB - Free Report) closed at $3.50, marking a +0.14% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.51%.
The company's stock has climbed by 8.05% in the past month, exceeding the Business Services sector's loss of 6.23% and the S&P 500's loss of 4.2%.
The investment community will be paying close attention to the earnings performance of Grab Holdings Limited in its upcoming release. The company is slated to reveal its earnings on May 15, 2024. On that day, Grab Holdings Limited is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 83.33%. At the same time, our most recent consensus estimate is projecting a revenue of $651.42 million, reflecting a 24.08% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.01 per share and revenue of $2.76 billion, indicating changes of +109.09% and +17.16%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Grab Holdings Limited. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Grab Holdings Limited is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Grab Holdings Limited is currently being traded at a Forward P/E ratio of 523.5. Its industry sports an average Forward P/E of 23.13, so one might conclude that Grab Holdings Limited is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Grab Holdings Limited (GRAB) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest trading session, Grab Holdings Limited (GRAB - Free Report) closed at $3.50, marking a +0.14% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.91%. Elsewhere, the Dow gained 0.85%, while the tech-heavy Nasdaq added 1.51%.
The company's stock has climbed by 8.05% in the past month, exceeding the Business Services sector's loss of 6.23% and the S&P 500's loss of 4.2%.
The investment community will be paying close attention to the earnings performance of Grab Holdings Limited in its upcoming release. The company is slated to reveal its earnings on May 15, 2024. On that day, Grab Holdings Limited is projected to report earnings of -$0.01 per share, which would represent year-over-year growth of 83.33%. At the same time, our most recent consensus estimate is projecting a revenue of $651.42 million, reflecting a 24.08% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.01 per share and revenue of $2.76 billion, indicating changes of +109.09% and +17.16%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Grab Holdings Limited. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Grab Holdings Limited is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Grab Holdings Limited is currently being traded at a Forward P/E ratio of 523.5. Its industry sports an average Forward P/E of 23.13, so one might conclude that Grab Holdings Limited is trading at a premium comparatively.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.