Despite Grab’s deliveries segment GMV increasing by 6% q-o-q due to its rebound following the earlier timing of the Ramadan fasting period, its mobility segment GMV stood flattish q-o-q after major concerts in Singapore boosted growth in 1Q2024.
CGS International analysts Ong Khang Chuen and Kenneth Tan have kept their “add” call on Grab Holdings at an unchanged target price of US$4.30 ($5.76) amid slower ebitda growth in 1QFY2024.
Ahead of the release of Grab’s 2QFY2024 results in mid-August, the analysts estimate that the group has achieved a “healthy” on-demand gross merchandise value (GMV) of US$4.4 billion in the same period, reflecting a 4% q-o-q and 12% y-o-y increase.
