Singapore, July 7, 2026, 19:04 (SGT)
- Grab traded at $3.85 in premarket, off 1.28% from its previous close. Regular Nasdaq trading hours begin at 9:30 a.m. ET.
- Dara Khosrowshahi exited Grab’s board July 6, but Uber kept its economic stake in Grab at the same level.
- Google Finance had a 12-month target on Grab from $4.50 to $8.00, with an average target of $6.10.
- Grab’s midpoint EBITDA forecast for 2026 is running roughly 15% above a basic Q1 run rate, using its $154 million in Q1 adjusted EBITDA and the $700 million-$720 million full-year guidance.
Grab Holdings Limited NASDAQ:GRAB is under pressure in the market after Dara Khosrowshahi, head of Uber Technologies Inc. NYSE:UBER, left its board. Analysts have a broad range of targets on the stock, and bulls point to profits, but cash conversion is still lagging and first-quarter momentum hasn’t convinced yet.
The stock printed at $3.85 ahead of the U.S. market open, with the last trade logged at 10:42 UTC. Nasdaq was open Tuesday, according to the 2026 holiday schedule. Official closure for Independence Day is set for July 3. Normal hours for Nasdaq are 9:30 a.m. to 4:00 p.m. ET.
Khosrowshahi joined Grab’s board after Uber sold its Southeast Asia business to Grab back in 2018. Grab said he resigned as the company aims to wrap up its planned takeover of Delivery Hero SE’s FRA:DHER foodpanda Taiwan business. According to the filing, Uber’s economic interest in Grab stays the same. Grab’s board now has six directors, including four who are independent.
Grab CEO Anthony Tan called Khosrowshahi’s platform background “invaluable to Grab’s growth.” Khosrowshahi said he has “enormous confidence in Anthony and the Grab team.” SEC
The valuation gap is what investors are watching. Google Finance showed 13 Buys on Grab in the last three months, with no Holds or Sells. The average target over 12 months came in at $6.10. Even the lowest target stayed above where the stock traded.
| Forecast marker | Value | Implied move from $3.85 |
|---|---|---|
| Current price | $3.85 | — |
| 12-month low target | $4.50 | +16.9% |
| 12-month average target | $6.10 | +58.4% |
| 12-month high target | $8.00 | +107.8% |
The target gap is key since the 2026 operating goal is sizable. Grab stuck with its full-year revenue target of $4.04 billion-$4.10 billion and adjusted EBITDA of $700 million-$720 million after Q1. CFO Peter Oey said in May the company was “firmly on track” to hit those numbers. Q4cdn
| Company metric | Q1 annualized run rate | 2026 guidance midpoint | Gap to midpoint |
|---|---|---|---|
| Revenue | $3.82 billion | $4.07 billion | 6.5% higher |
| Adjusted EBITDA | $616 million | $710 million | up 15.3% |
| Adjusted EBITDA margin | 16.1% | 17.4% | up 1.3 percentage points |
Cash numbers were uneven. Grab finished March with $6.9 billion in gross cash liquidity and $5.0 billion in net cash liquidity, but it burned through $59 million in operating cash in the first quarter, mostly from higher loan-receivable outflows in its lending unit. Adjusted free cash flow for the quarter was $98 million.
Buybacks are back in focus. Grab said it started a $250 million accelerated share repurchase and a contingent forward buy for up to $150 million in March. That’s under a $500 million plan approved in February. With the market cap near $15.2 billion, the whole programme is about 3.3% of the company.
Incentives and lending are the key issues. Grab said Q1 total incentives reached $650 million. On-demand incentives were 10.5% of on-demand GMV, up 46 basis points from last year. The company’s gross loan book jumped 130% year-on-year to $1.44 billion. That pace can boost revenue, but also means more money tied up in receivables.
The Taiwan deal gives the board move more impact than a typical resignation. Grab said in May it aims to close foodpanda Taiwan in the second half of 2026, pending regulators and other usual conditions. In a July 6 filing, Grab linked Khosrowshahi’s departure to the effort to wrap up the deal, but didn’t say anything about changing the terms or Uber’s stake.
Nasdaq 100 futures dropped 0.9% before the open, Reuters reported at 04:56 a.m. ET, with tech showing weakness. For Grab investors, the main questions for Q2 are incentive pressure, cash flow from lending, and timing in Taiwan.
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