Grab (GRAB, $3.21) Q1 revenue topped expectations
Grab Holdings reported first quarter revenue for that surpassed Wall Street expectations.
The Singaporean technology company’s first-quarter revenue came in at $228 million, well above the Street estimates of $127.7 million, according to FactSet.
Gross merchandise value (the sum of the total dollar value of transactions from Grab’s services, including any applicable taxes, tips, tolls and fees) for the quarter +32% from the year-ago quarter to $4.8 billion.
For fiscal 2022, the company projects revenue to range between $1.2 billion and $1.3 billion, compared to $955.3 million expected by analysts polled on FactSet.
According to Grab’s statement, mobility GMV climbed +9% quarter on quarter, thereby reflecting demand recovery after the impact of Omicron in the first two months of the quarter. The company said that its average monthly active drivers rose by 220,000 from the third quarter of 2021 to the first quarter 2022. The number of active drivers on its platform over the first quarter was at the highest level since the second quarter 2020.
“Looking ahead, we will continue to acquire drivers in order to reestablish our pre-Covid supply levels and to capture the strong demand we see coming back online,” the company said.
GRAB's RSI Indicator sits in oversold zone for 5 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
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Notable companies
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), CrowdStrike Holdings (NASDAQ:CRWD).
Industry description
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
Market Cap
The average market capitalization across the Packaged Software Industry is 10.66B. The market cap for tickers in the group ranges from 291 to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is BLGI at 291.
High and low price notable news
The average weekly price growth across all stocks in the Packaged Software Industry was 2%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 4%. CMAX experienced the highest price growth at 220%, while NXTT experienced the biggest fall at -64%.
Volume
The average weekly volume growth across all stocks in the Packaged Software Industry was -6%. For the same stocks of the Industry, the average monthly volume growth was 10% and the average quarterly volume growth was 20%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 52
P/E Growth Rating: 74
Price Growth Rating: 58
SMR Rating: 82
Profit Risk Rating: 89
Seasonality Score: 0 (-100 ... +100)