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.
基准 分析师 Fawne Jiang 坚持认为 Grab 控股有限公司 纳斯达克股票代码：GRAB）买入，并将目标股价从4美元上调至6美元。
GRAB posted solid results for 2Q23 and revised their full-year guidance positively.
GRAB公布了23年第二季度的稳健业绩，并积极修订了全年预期。
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.
他们现在预计将在2023年第三季度实现收支平衡，与早些时候的4季度估计相比有所改善。突显GRAB估值的一些关键点包括，GRAB在市场上处于领先地位，其主要细分市场——出行和交付——已接近其稳定的利润目标。
This positioning lets them delve deeper into the market and grow their market share.
这种定位使他们能够更深入地研究市场并增加其市场份额。
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.
他们迅速转向盈利，这证明了可持续性，而不会损失任何市场份额。该公司在出行、交付、金融科技和广告领域显示出充满希望的长期增长途径。
Mobility shows a robust recovery trajectory.
出行表现出强劲的复苏轨迹。
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.
该细分市场在23年第二季度商品总量（GMV）同比增长28％，这要归因于每月活跃用户和交易量的增加。此外，尽管劳动力市场面临挑战，但他们还是成功地增加了司机供应。
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.
随着在马来西亚、印度尼西亚和菲律宾推出新服务，GRAB的目标是提高市场渗透率。该细分市场第二季度调整后的息税折旧摊销前利润率为12.3％，与设定目标一致。
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趋势。该细分市场创下新纪录，23年第二季度GMV同比增长4％。
Positive change is likely, pushing the GMV growth estimate for FY23 to 5%.
可能会出现积极的变化，将23财年的GMV增长预期推至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.
尽管23年第二季度GMV同比下降了13％，但金融科技的增长仍然强劲。该行业的收入同比大幅增长223％，调整后的息税折旧摊销前利润亏损减少了35％。
While losses will likely stabilize in the second half of 2023, Fintech's annual EBITDA loss projection reduced in FY23 to $(284) million.
尽管亏损可能会在2023年下半年趋于稳定，但金融科技的年度息税折旧摊销前利润亏损预测在23财年降至2.84亿美元。
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.
总体而言，该集团对23财年的收入估计已增至23.0亿美元，同比增长61％，调整后的息税折旧摊销前利润定为3,800万美元。该公司的估值以24财年的预测为中心，已将重点从销售转移到盈利能力上。
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的长期潜力在于利用其不断扩大的生态系统和进一步的市场渗透所产生的协同效应。鉴于其战略定位，GRAB是东南亚市场投资组合中的关键资产。
Barclays analyst Jiong Shao upgraded Grab from Equal-Weight to Overweight and a $4.5 price target.
巴克莱 分析师Jiong Shao将Grab从等权重上调至增持，目标股价为4.5美元。
Citigroup analyst Alicia Yap maintained Grab with a Buy and raised the price target from $4.8 to $5.2.
花旗集团 分析师艾丽西亚·亚普（Alicia Yap）维持Grab的买入，并将目标股价从4.8美元上调至5.2美元。
Price Action: GRAB shares traded higher by 0.41% at $3.72 on the last check Thursday.
价格走势： 在周四的最后一张支票中，GRAB股价上涨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.
免责声明： 该内容部分是在人工智能工具的帮助下制作的，并由Benzinga编辑审阅和发布。