Stock Market Today, Nov. 3: Grab Holdings Jumps 9% on Q3 Revenue Beat and Raised 2026 Outlook
Grab Holdings (NASDAQ:GRAB), a Southeast Asian super-app for ride-hailing, delivery, and fintech services, closed at $3.12, up 9.09%. The stock rose after Grab reported Q3 revenue above estimates and raised its full-year 2026 outlook. Investors are watching whether the higher guidance and improved profitability extend the move. Trading volume reached 144.8M shares, coming in about 143% above its three-month average of 59.7M shares. Grab Holdings IPO'd in 2020 and has fallen 74% since going public.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) rose 0.36% to 7,569, and the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 0.83% to 25,372. In internet services: ride-hailing, delivery, and digital financial services, Uber Technologies (NYSE:UBER) closed at $66.61, down 0.15%, while DoorDash (NASDAQ:DASH) closed at $183.32, down 3.55%, as delivery-platform peers digested growth and margin updates.
What this means for investors
Judging from its excellent Q3 earnings, Grab remains an intriguing, under-the-radar growth stock in my eyes. Management announced:
- revenue rose 27%
- adjusted EBITDA soared 73%
- adjusted EBITDA margin expanded nearly 6 percentage points
- $400 million worth of shares were repurchased
- it reached 57 million monthly transacting users
- all three segments (mobility, delivery, and financial services) reached profitability for the first time ever
In addition to these promising figures, management raised full-year guidance to 25% sales growth and a 59% increase in adjusted EBITDA.
Though management also announced that the company's proposed acquisition of foodpanda's Taiwanese business for $600 million was canceled -- hitting GRAB with a $60 million breakup fee -- it was an otherwise great quarter all around.
Home to a net cash balance of roughly $6 billion, this fee is barely noticeable to the company, and Grab will likely continue to rely on acquisitions for future growth as it builds out the depth of services offered by its superapp.
Trading with a forward EV/EBITDA of 10 (using management's adjusted EBITDA guidance), Grab's high-growth figures and improving profitability are very reasonably priced.
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Josh Kohn-Lindquist has positions in Uber Technologies. The Motley Fool has positions in and recommends DoorDash. The Motley Fool recommends Grab and Uber Technologies. The Motley Fool has a disclosure policy.
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