Grab Holdings Limited (GRAB) Flat As Market Gains: What You Should Know
Grab Holdings Limited (GRAB) closed the latest trading day at $3.50, indicating no change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.02% for the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 2.03%.
Shares of the company witnessed a gain of 11.47% over the previous month, beating the performance of the Business Services sector with its loss of 5.04% and the S&P 500's loss of 3.15%.
Market participants will be closely following the financial results of Grab Holdings Limited in its upcoming release. The company plans to announce 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%. Our most recent consensus estimate is calling for quarterly revenue of $647.29 million, up 23.29% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $0.01 per share and revenue of $2.76 billion, which would represent changes of +109.09% and +17.16%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Grab Holdings Limited. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Grab Holdings Limited presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Grab Holdings Limited is currently trading at a Forward P/E ratio of 525. This valuation marks a premium compared to its industry's average Forward P/E of 23.54.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 141, this industry ranks in the bottom 45% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Grab Holdings Limited (GRAB) : Free Stock Analysis Report
