In the latest trading session, Grab Holdings Limited (GRAB) closed at $6.32, marking a -2.02% move from the previous day. This change lagged the S&P 500's 0.55% loss on the day. Elsewhere, the Dow saw a downswing of 0.19%, while the tech-heavy Nasdaq depreciated by 0.95%.
Heading into today, shares of the company had gained 28.74% over the past month, outpacing the Computer and Technology sector's gain of 9.88% and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of Grab Holdings Limited in its upcoming earnings disclosure. The company is expected to report EPS of $0.01, unchanged from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $874.84 million, showing a 22.18% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.05 per share and revenue of $3.39 billion, indicating changes of +266.67% and +21.36%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Grab Holdings Limited. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 7.69% increase. Grab Holdings Limited is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Grab Holdings Limited has a Forward P/E ratio of 138.21 right now. This expresses a premium compared to the average Forward P/E of 32.31 of its industry.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 70, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Grab Holdings Limited (GRAB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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