GRAB's Swift Path to Profitability and Market Consolidation - Impressed Analysts Raise Price Target By 50%
GRAB's Swift Path to Profitability and Market Consolidation - Impressed Analysts Raise Price Target By 50%
Benchmark analyst Fawne Jiang maintained Grab Holdings Limited (NASDAQ:GRAB) with a Buy and raised the price target from $4 to $6.
基準分析師Fawne Jiang維持Grab Holdings Limited（納斯達克股票代碼：GRAB）的買入，並將目標股價從4美元上調至6美元。
GRAB posted solid results for 2Q23 and revised their full-year guidance positively.
GRAB公佈了23年第二季度的穩健業績，並積極修訂了全年預期。
They now anticipate breaking even in 3Q23, an improvement from the earlier 4Q23 estimate. Some key points that underline GRAB's valuation include that GRAB is leading in the market and is near its steady-state margin goal in its main segments, Mobility, and Delivery.
他們現在預計將在2023年第三季度實現收支平衡，與早些時候的4季度估計相比有所改善。突顯GRAB估值的一些關鍵點包括，GRAB在市場上處於領先地位，其主要細分市場——出行和交付——已接近其穩定的利潤目標。
This positioning lets them delve deeper into the market and grow their market share.
這種定位使他們能夠更深入地研究市場並增加其市場份額。
Their swift shift to profitability demonstrates sustainability without any market share loss. The company displays promising long-term growth avenues in the Mobility, Delivery, Fintech, and advertising sectors.
他們迅速轉向盈利，這證明了可持續性，而不會損失任何市場份額。該公司在出行、交付、金融科技和廣告領域顯示出充滿希望的長期增長途徑。
Mobility shows a robust recovery trajectory.
出行表現出強勁的復甦軌跡。
The segment experienced a 28% year-over-year (Y/Y) growth in Gross Merchandise Volume (GMV) in 2Q23, attributed to a rise in monthly active users and transactions. Furthermore, they successfully increased driver supply despite labor market challenges.
該細分市場在23年第二季度商品總量（GMV）同比增長28％，這要歸因於每月活躍用戶和交易量的增加。此外，儘管勞動力市場面臨挑戰，但他們還是成功地增加了司機供應。
With new services introduced in Malaysia, Indonesia, and the Philippines, GRAB aims for greater market penetration. The adjusted EBITDA margin for this segment stood at 12.3% in 2Q, aligning with the set targets.
隨着在馬來西亞、印度尼西亞和菲律賓推出新服務，GRAB的目標是提高市場滲透率。該細分市場第二季度調整後的息稅折舊攤銷前利潤率爲12.3％，與設定目標一致。
Delivery profitability is on an upward trend. This segment set a new record with a 4% Y/Y GMV growth in 2Q23.
交付盈利能力呈上升趨勢。該細分市場創下新紀錄，23年第二季度GMV同比增長4％。
Positive change is likely, pushing the GMV growth estimate for FY23 to 5%.
可能會出現積極的變化，將23財年的GMV增長預期推至5％。
Fintech's growth remains strong despite a 13% Y/Y drop in GMV in 2Q23. The sector witnessed a significant 223% revenue growth Y/Y, with a 35% reduction in adjusted EBITDA loss.
儘管23年第二季度GMV同比下降了13％，但金融科技的增長仍然強勁。該行業的收入同比大幅增長223％，調整後的息稅折舊攤銷前利潤虧損減少了35％。
While losses will likely stabilize in the second half of 2023, Fintech's annual EBITDA loss projection reduced in FY23 to $(284) million.
儘管虧損可能會在2023年下半年趨於穩定，但金融科技的年度息稅折舊攤銷前利潤虧損預測在23財年降至2.84億美元。
Overall, the group's revenue estimate for FY23 has increased to $2.30 billion, a 61% Y/Y growth, with an adjusted EBITDA set at $(38) million. The company's valuation, centered on FY24 predictions, has shifted focus from sales to profitability.
總體而言，該集團對23財年的收入估計已增至23.0億美元，同比增長61％，調整後的息稅折舊攤銷前利潤定爲3,800萬美元。該公司的估值以24財年的預測爲中心，已將重點從銷售轉移到盈利能力上。
GRAB's long-term potential lies in capitalizing on synergies from its broadening ecosystem and further market penetration. Given its strategic positioning, GRAB is a pivotal asset in Southeast Asian market portfolios.
GRAB的長期潛力在於利用其不斷擴大的生態系統和進一步的市場滲透所產生的協同效應。鑑於其戰略定位，GRAB是東南亞市場投資組合中的關鍵資產。
Barclays analyst Jiong Shao upgraded Grab from Equal-Weight to Overweight and a $4.5 price target.
巴克萊分析師Jiong Shao將Grab從等權重上調至增持，目標股價爲4.5美元。
Citigroup analyst Alicia Yap maintained Grab with a Buy and raised the price target from $4.8 to $5.2.
花旗集團分析師艾麗西亞·亞普維持了買入的Grab，並將目標股價從4.8美元上調至5.2美元。
Price Action: GRAB shares traded higher by 0.41% at $3.72 on the last check Thursday.
價格走勢：在週四的最後一次支票中，GRAB股價上漲0.41％，至3.72美元。
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
免責聲明： 該內容部分是在人工智能工具的幫助下製作的，並由Benzinga編輯審閱和發佈。
譯文內容由第三人軟體翻譯。