In the latest close session, Grab Holdings Limited (GRAB) was down 2.04% at $4.79. The stock's change was less than the S&P 500's daily loss of 0.19%. On the other hand, the Dow registered a loss of 0.8%, and the technology-centric Nasdaq decreased by 0.1%.
Coming into today, shares of the company had lost 2.59% in the past month. In that same time, the Computer and Technology sector gained 2.62%, while the S&P 500 gained 2.26%.
Investors will be eagerly watching for the performance of Grab Holdings Limited in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.01, showcasing a 200% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $933.37 million, indicating a 22.17% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $0.04 per share and a revenue of $3.4 billion, demonstrating changes of +233.33% and 0%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Grab Holdings Limited. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Grab Holdings Limited is carrying a Zacks Rank of #4 (Sell).
Investors should also note Grab Holdings Limited's current valuation metrics, including its Forward P/E ratio of 56.42. This denotes a premium relative to the industry average Forward P/E of 24.44.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 56, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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