Why Are Grab Holding Shares Trading Higher Friday
Portfolio Pulse from Anusuya Lahiri
Grab Holdings Ltd (NASDAQ:GRAB) shares are trading higher after the company reported a 130% YoY revenue growth to $525 million in Q1 FY23, beating the consensus of $490.1 million. Analysts from Benchmark, HSBC, Bernstein, and Citi have reiterated Buy ratings and raised price targets.
May 19, 2023 | 3:09 pm
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Grab Holdings shares are up after reporting strong Q1 FY23 results, with analysts reiterating Buy ratings and raising price targets.
Grab Holdings reported a 130% YoY revenue growth in Q1 FY23, beating the consensus estimate. This strong performance has led analysts from Benchmark, HSBC, Bernstein, and Citi to reiterate Buy ratings and raise price targets for the stock. As a result, the stock price is likely to go up in the short term due to the positive sentiment from the earnings beat and analyst recommendations.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100