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FCKang
2022-06-20
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2022-06-20
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2022-06-15
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Cathie Wood Goes Shopping: 3 Beaten-Down Growth Stocks She Just Bought
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22:59","market":"us","language":"en","title":"Cathie Wood Goes Shopping: 3 Beaten-Down Growth Stocks She Just Bought","url":"https://stock-news.laohu8.com/highlight/detail?id=2243484620","media":"Motley Fool","summary":"As the markets continue to burn, Ark Invest's lead stock picker is charging into the inferno to scoop up more shares of these underappreciated gems.","content":"<html><head></head><body><p>Cathie Wood, the CEO of Ark Invest, made her name by embracing innovative businesses in the early stages of their life cycle. If you've been paying attention to the stock market lately, you know that up-and-coming technology stocks have been under a lot of pressure.</p><p>Despite prices that are sinking in the present, Wood thinks there could be big gains down the road for savvy tech stock investors who wait out the storm. Here are three stocks that are more than 77% below the peak prices they reached last year. Here's why Wood's convinced they can outperform over time.</p><h2><a href=\"https://laohu8.com/S/PATH\">UiPath</a></h2><p>Wood has been a big fan of <b>UiPath</b> since its stock market debut in April of 2021. Unfortunately, shares of this enterprise automation business have been hammered down around 78% from their post-IPO peak.</p><p>Ark Invest's exchange-traded funds (<a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a>s) have been buying up more shares of UiPath stock at beaten-down prices. Now, it's the seventh largest holding in the flagship <b>Ark Innovation ETF</b>.</p><p>By emulating human clicks and keystrokes, UiPath's robotic process automation (RPA) platform brings the benefits of automation to office employees, even if they lack programming skills. For example, corrections departments in the Netherlands use UiPath's robots to fill out forms so employees have more time to actually rehabilitate the convicted.</p><p>Businesses eager to retain talented employees are beating a path to UiPath's door. During its fiscal first quarter ended April 30, revenue rose 32% year over year to $254 million.</p><p>Information technology professionals enjoy using UiPath but you don't need to be a programmer to put the platform to good use. This is a big advantage UiPath has over its competitors in the RPA industry. With the leading platform for people who can't program their way out of a wet paper bag, investors can look forward to a rapidly expanding customer base for the foreseeable future.</p><h2>Roblox</h2><p>Wood was eager to buy up shares of <b>Roblox</b> late last year when it was trading near its all-time high. The stock has tumbled 79% from its peak, but that hasn't stopped Ark Invest from buying more shares of this metaverse stock with confidence.</p><p>Roblox is all about individual gamers creating their own games, which is a lot more popular than you might expect. There were 54.1 million daily active users on Roblox in the first quarter which was 28% more than the previous year's period.</p><p>The stock has been tanking because not as many parents are scrambling to find ways to keep their children entertained all day while they try to work from home. The important thing to remember here is that those kids will eventually get their own jobs.</p><p>As the age range of Roblox's customer base expands, opportunities for monetization also improve. For example, this March, <b>Sony</b>, and Roblox teamed up to host a live concert with 24kGoldn, a multi-platinum artist who grew up with Roblox. Concert sizes are traditionally limited by venue sizes and geography. These aren't constraints in a virtual setting. Expect more artists who are eager to sell virtual merchandise to millions of fans at a single event to start holding virtual concerts on Roblox in the future.</p><h2>Roku</h2><p><b>Roku</b> has tanked about 83% from the high water mark it set in 2021. The dramatic losses haven't darkened Wood's expectations for this streaming stock and its long-term future.</p><p>Now that we're spending less time in our homes, usage of Roku-enabled devices isn't growing quite as quickly as it did a year earlier. Despite the challenges, Roku's still growing pretty fast. The company racked up 20.9 million streaming hours in the first quarter, which was 14% more than it recorded in the previous year period.</p><p>More hours of engagement mean more revenue and serving targeted advertisements to connected televisions is an increasingly lucrative business. Average annual revenue per user soared 34% year over year to $42.91 in the first quarter.</p><p>Big brand advertisers are still shifting their budgets away from broadcast television and toward ad-supported streaming platforms. As America's largest streaming platform by hours viewed, Roku is in the right place at the right time and Wood knows it.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Goes Shopping: 3 Beaten-Down Growth Stocks She Just Bought</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCathie Wood Goes Shopping: 3 Beaten-Down Growth Stocks She Just Bought\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-14 22:59 GMT+8 <a href=https://www.fool.com/investing/2022/06/14/cathie-wood-goes-shopping-3-beaten-down-growth-sto/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood, the CEO of Ark Invest, made her name by embracing innovative businesses in the early stages of their life cycle. If you've been paying attention to the stock market lately, you know that ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/14/cathie-wood-goes-shopping-3-beaten-down-growth-sto/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PATH":"UiPath","RBLX":"Roblox Corporation","ROKU":"Roku Inc"},"source_url":"https://www.fool.com/investing/2022/06/14/cathie-wood-goes-shopping-3-beaten-down-growth-sto/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2243484620","content_text":"Cathie Wood, the CEO of Ark Invest, made her name by embracing innovative businesses in the early stages of their life cycle. If you've been paying attention to the stock market lately, you know that up-and-coming technology stocks have been under a lot of pressure.Despite prices that are sinking in the present, Wood thinks there could be big gains down the road for savvy tech stock investors who wait out the storm. Here are three stocks that are more than 77% below the peak prices they reached last year. Here's why Wood's convinced they can outperform over time.UiPathWood has been a big fan of UiPath since its stock market debut in April of 2021. Unfortunately, shares of this enterprise automation business have been hammered down around 78% from their post-IPO peak.Ark Invest's exchange-traded funds (Pacer Swan SOS Fund of Funds ETF|ETFs) have been buying up more shares of UiPath stock at beaten-down prices. Now, it's the seventh largest holding in the flagship Ark Innovation ETF.By emulating human clicks and keystrokes, UiPath's robotic process automation (RPA) platform brings the benefits of automation to office employees, even if they lack programming skills. For example, corrections departments in the Netherlands use UiPath's robots to fill out forms so employees have more time to actually rehabilitate the convicted.Businesses eager to retain talented employees are beating a path to UiPath's door. During its fiscal first quarter ended April 30, revenue rose 32% year over year to $254 million.Information technology professionals enjoy using UiPath but you don't need to be a programmer to put the platform to good use. This is a big advantage UiPath has over its competitors in the RPA industry. With the leading platform for people who can't program their way out of a wet paper bag, investors can look forward to a rapidly expanding customer base for the foreseeable future.RobloxWood was eager to buy up shares of Roblox late last year when it was trading near its all-time high. The stock has tumbled 79% from its peak, but that hasn't stopped Ark Invest from buying more shares of this metaverse stock with confidence.Roblox is all about individual gamers creating their own games, which is a lot more popular than you might expect. There were 54.1 million daily active users on Roblox in the first quarter which was 28% more than the previous year's period.The stock has been tanking because not as many parents are scrambling to find ways to keep their children entertained all day while they try to work from home. The important thing to remember here is that those kids will eventually get their own jobs.As the age range of Roblox's customer base expands, opportunities for monetization also improve. For example, this March, Sony, and Roblox teamed up to host a live concert with 24kGoldn, a multi-platinum artist who grew up with Roblox. Concert sizes are traditionally limited by venue sizes and geography. These aren't constraints in a virtual setting. Expect more artists who are eager to sell virtual merchandise to millions of fans at a single event to start holding virtual concerts on Roblox in the future.RokuRoku has tanked about 83% from the high water mark it set in 2021. The dramatic losses haven't darkened Wood's expectations for this streaming stock and its long-term future.Now that we're spending less time in our homes, usage of Roku-enabled devices isn't growing quite as quickly as it did a year earlier. Despite the challenges, Roku's still growing pretty fast. The company racked up 20.9 million streaming hours in the first quarter, which was 14% more than it recorded in the previous year period.More hours of engagement mean more revenue and serving targeted advertisements to connected televisions is an increasingly lucrative business. Average annual revenue per user soared 34% year over year to $42.91 in the first quarter.Big brand advertisers are still shifting their budgets away from broadcast television and toward ad-supported streaming platforms. As America's largest streaming platform by hours viewed, Roku is in the right place at the right time and Wood knows it.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9049960054,"gmtCreate":1655737209878,"gmtModify":1676535695205,"author":{"id":"3585615308723556","authorId":"3585615308723556","name":"FCKang","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3585615308723556","authorIdStr":"3585615308723556"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9049960054","repostId":"2244176410","repostType":2,"repost":{"id":"2244176410","pubTimestamp":1655738703,"share":"https://ttm.financial/m/news/2244176410?lang=&edition=fundamental","pubTime":"2022-06-20 23:25","market":"us","language":"en","title":"Grab Holdings: Speculative, Despite 85% Sell-Off","url":"https://stock-news.laohu8.com/highlight/detail?id=2244176410","media":"Seekingalpha","summary":"SummaryGrab Holdings Limited is a major tech/internet company based in Singapore. Grab operates a Su","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Grab Holdings Limited is a major tech/internet company based in Singapore. Grab operates a Super App that connects drivers/merchants and consumers in four major service brackets.</li><li>The challenge in evaluating Grab is given by the tension between extremely high growth potential on one hand and scary economics/financials on the other hand.</li><li>In general, analysts are quite bullish on Grab, with a consensus target price of $4.74/share – indicating approximately 70% upside.</li><li>To value Grab, I would suggest using a x20 EV/EBITDA multiple, anchored on Grab's 2025 financial numbers and discounted back to 2020.</li><li>I initiate with a HOLD recommendation and a $2.19/share target price.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5f3a3741b0a8e4c24fe77ef7d8b40b4a\" tg-width=\"1080\" tg-height=\"721\" referrerpolicy=\"no-referrer\"/><span>Luis Alvarez/DigitalVision via Getty Images</span></p><p>Should you buy Grab (NASDAQ:GRAB), as the stock is down approximately 85% from ATH? Depends: On one hand, you have extremely high growth potential and on the other hand, you have truly scary economics/financials. Thus, investing in Grab is allabout speculation, in my opinion. I initiate with a HOLD recommendation and a $2.19/share target price.</p><p><b>About Grab</b></p><p>Grab Holdings Limited is a major tech/internet company based in Singapore. Grab operates a Super App Platform in SEA connects drivers/merchants and consumers in four major service brackets: 1) food and groceries deliveries, 2) mobility and ride-hailing services, 3) financial services and 4) new initiatives. Grab has presence in Singapore, Philippines, Malaysia, Thailand, Indonesia, Vietnam, Cambodia and Myanmar. Widely considered amongst the world’s highest potential growth assets, Grab was one of the most strongly expected IPOs in 2021 – as the company went public via SPAC and raised $4.5 billion in equity funding.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/08fb975ea3ebae1636594898289e058b\" tg-width=\"640\" tg-height=\"356\" referrerpolicy=\"no-referrer\"/><span>Grab Investor Presentation, April 2021</span></p><p><b>No profitability vs Strong growth</b></p><p>The challenge in evaluating Grab is given by the tension between extremely high growth potential on one hand and scary economics/financials on the other hand. The question for shareholder is: what side will persevere? Will the company grow to become profitable as Amazon managed to do? Or are Grab’s fundamentals going to break the company? In the past few years the growth narrative prevailed, as funding was cheap and easy. Now, however, the market appears to value profitability, as funding becomes hard and expensive. And so Grab might have a hard time to sustain the company’s operations. Let's have a look at the growth/potential versus profitability/financials tension in more detail.</p><p>If I were to bet on a growth asset, I would look for exposure in South East Asia — a market with approximately 600 million population, accelerating digital penetration and attractive GDP growth. And, Grab is well positioned to capture a large market opportunity in this economy with a leading position in grocery and food delivery (1) and ride-hailing (2) and attractive growth optionality in fintech (3).According to company presentations, Grab management estimates the company’s addressable market at $250 billion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5216a12e9f488bb78345049205cb1fa1\" tg-width=\"640\" tg-height=\"356\" referrerpolicy=\"no-referrer\"/><span>Grab Investor Presentation, April 2021</span></p><p>Grab’s technology-centric super-app strategy enables the company to cross-sell on multiple growth verticals and tap in virtuous tailwinds from network effects. As of 2021, Grab had 72% market share of the region's ride-hailing market. In addition, the market holds a 50% market share in food and grocery delivery. While the company’s fintech operations are still in early stages, Grab managed to obtain a digital banking license in Malaysia, Indonesia and Singapore.</p><p><b>Financials</b></p><p>In 2021, Grab recorded revenues of $675 million and lost scary -$3.5 billion attributable to shareholders, or -$0.95/share. However, $1.99 billion of this loss were due to non-operating loss (finance-costs). That said, cash from operations was a little more comforting at negative $1 billion – but still a danger signal. My personal takeaway is that Grab currently finances loss-making operations with significant funding costs (be it equity or debt). And as the market is turning cautious with giving funding to growth companies, this might not only pressure Grab’s operations, but also the company’s future—if funding freezes for too long.</p><p>On the positive site,Grab’s balance sheet looks solid and could sustain a few more years of considerable losses and growth investing. As of Q1 2022, Grab records. $7.5 billion in cash and cash equivalents and $2.34 of total debt. Moreover, the company’s asset quality looks solid, with only $675 million of intangibles and no significant position in inventories or accounts receivable. Moreover, Grab records no significant mark-to-market investments and derivatives that could hurt investors on a re-valuation.</p><p><b>How analysts see it</b></p><p>In general, analysts are quite bullish on Grab, with a consensus target price of $4.74/share – indicating approximately 70% upside. According to the Bloomberg Terminal, as of June 2022, analyst see Grab’s revenues in 2025 at $4.55 billion. This would equal a 3-year CAGR of approximately 30%, from 2022 to 2025. Moreover, the company is expected to break-even in the same year, recording EBITDA of $450 million and a net-income attributable to shareholders of $0.11/share.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79a8b39a49f890d74f8971d2c50563a4\" tg-width=\"640\" tg-height=\"181\" referrerpolicy=\"no-referrer\"/><span>Seeking Alpha</span></p><p><b>Valuation</b></p><p>While it is difficult to value Grab – especially since the company’s operations need to be projected for multiple years into the future, I would like to draft a multiples valuation to give investors and readers an anchor for their decision-making. Specifically, I would suggest using a x20 EV/EBITDA multiple, anchored on Grab's 2025 financial numbers and discounted back to 2020. This multiple is in line with Amazon's trading price. That said, based on a $450 million EBITDA and a 10% WACC, I calculate a 2022 enterprise value of $6.7 billion and an equity value of $8.4 billion, or $2.19/share. Please note, however, that this model should only be taken as a very rough reference.</p><p>In my opinion, Grab is high-risk/high-reward. If the company manages to capture the large market in SEA, then stock valuation could possibly surpass $100 billion. If, however, Grab cannot sustain operations due to non-existent profitability -- paired with frozen capital markets -- the stock could still go much lower. I initiate with a HOLD recommendation and a $2.19/share target price.</p><p>This article was written by Cavenagh Research.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab Holdings: Speculative, Despite 85% Sell-Off</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab Holdings: Speculative, Despite 85% Sell-Off\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-20 23:25 GMT+8 <a href=https://seekingalpha.com/article/4519048-grab-stock-speculative-despite-85-percent-sell-off><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGrab Holdings Limited is a major tech/internet company based in Singapore. Grab operates a Super App that connects drivers/merchants and consumers in four major service brackets.The challenge ...</p>\n\n<a href=\"https://seekingalpha.com/article/4519048-grab-stock-speculative-despite-85-percent-sell-off\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"source_url":"https://seekingalpha.com/article/4519048-grab-stock-speculative-despite-85-percent-sell-off","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2244176410","content_text":"SummaryGrab Holdings Limited is a major tech/internet company based in Singapore. Grab operates a Super App that connects drivers/merchants and consumers in four major service brackets.The challenge in evaluating Grab is given by the tension between extremely high growth potential on one hand and scary economics/financials on the other hand.In general, analysts are quite bullish on Grab, with a consensus target price of $4.74/share – indicating approximately 70% upside.To value Grab, I would suggest using a x20 EV/EBITDA multiple, anchored on Grab's 2025 financial numbers and discounted back to 2020.I initiate with a HOLD recommendation and a $2.19/share target price.Luis Alvarez/DigitalVision via Getty ImagesShould you buy Grab (NASDAQ:GRAB), as the stock is down approximately 85% from ATH? Depends: On one hand, you have extremely high growth potential and on the other hand, you have truly scary economics/financials. Thus, investing in Grab is allabout speculation, in my opinion. I initiate with a HOLD recommendation and a $2.19/share target price.About GrabGrab Holdings Limited is a major tech/internet company based in Singapore. Grab operates a Super App Platform in SEA connects drivers/merchants and consumers in four major service brackets: 1) food and groceries deliveries, 2) mobility and ride-hailing services, 3) financial services and 4) new initiatives. Grab has presence in Singapore, Philippines, Malaysia, Thailand, Indonesia, Vietnam, Cambodia and Myanmar. Widely considered amongst the world’s highest potential growth assets, Grab was one of the most strongly expected IPOs in 2021 – as the company went public via SPAC and raised $4.5 billion in equity funding.Grab Investor Presentation, April 2021No profitability vs Strong growthThe challenge in evaluating Grab is given by the tension between extremely high growth potential on one hand and scary economics/financials on the other hand. The question for shareholder is: what side will persevere? Will the company grow to become profitable as Amazon managed to do? Or are Grab’s fundamentals going to break the company? In the past few years the growth narrative prevailed, as funding was cheap and easy. Now, however, the market appears to value profitability, as funding becomes hard and expensive. And so Grab might have a hard time to sustain the company’s operations. Let's have a look at the growth/potential versus profitability/financials tension in more detail.If I were to bet on a growth asset, I would look for exposure in South East Asia — a market with approximately 600 million population, accelerating digital penetration and attractive GDP growth. And, Grab is well positioned to capture a large market opportunity in this economy with a leading position in grocery and food delivery (1) and ride-hailing (2) and attractive growth optionality in fintech (3).According to company presentations, Grab management estimates the company’s addressable market at $250 billion.Grab Investor Presentation, April 2021Grab’s technology-centric super-app strategy enables the company to cross-sell on multiple growth verticals and tap in virtuous tailwinds from network effects. As of 2021, Grab had 72% market share of the region's ride-hailing market. In addition, the market holds a 50% market share in food and grocery delivery. While the company’s fintech operations are still in early stages, Grab managed to obtain a digital banking license in Malaysia, Indonesia and Singapore.FinancialsIn 2021, Grab recorded revenues of $675 million and lost scary -$3.5 billion attributable to shareholders, or -$0.95/share. However, $1.99 billion of this loss were due to non-operating loss (finance-costs). That said, cash from operations was a little more comforting at negative $1 billion – but still a danger signal. My personal takeaway is that Grab currently finances loss-making operations with significant funding costs (be it equity or debt). And as the market is turning cautious with giving funding to growth companies, this might not only pressure Grab’s operations, but also the company’s future—if funding freezes for too long.On the positive site,Grab’s balance sheet looks solid and could sustain a few more years of considerable losses and growth investing. As of Q1 2022, Grab records. $7.5 billion in cash and cash equivalents and $2.34 of total debt. Moreover, the company’s asset quality looks solid, with only $675 million of intangibles and no significant position in inventories or accounts receivable. Moreover, Grab records no significant mark-to-market investments and derivatives that could hurt investors on a re-valuation.How analysts see itIn general, analysts are quite bullish on Grab, with a consensus target price of $4.74/share – indicating approximately 70% upside. According to the Bloomberg Terminal, as of June 2022, analyst see Grab’s revenues in 2025 at $4.55 billion. This would equal a 3-year CAGR of approximately 30%, from 2022 to 2025. Moreover, the company is expected to break-even in the same year, recording EBITDA of $450 million and a net-income attributable to shareholders of $0.11/share.Seeking AlphaValuationWhile it is difficult to value Grab – especially since the company’s operations need to be projected for multiple years into the future, I would like to draft a multiples valuation to give investors and readers an anchor for their decision-making. Specifically, I would suggest using a x20 EV/EBITDA multiple, anchored on Grab's 2025 financial numbers and discounted back to 2020. This multiple is in line with Amazon's trading price. That said, based on a $450 million EBITDA and a 10% WACC, I calculate a 2022 enterprise value of $6.7 billion and an equity value of $8.4 billion, or $2.19/share. Please note, however, that this model should only be taken as a very rough reference.In my opinion, Grab is high-risk/high-reward. If the company manages to capture the large market in SEA, then stock valuation could possibly surpass $100 billion. If, however, Grab cannot sustain operations due to non-existent profitability -- paired with frozen capital markets -- the stock could still go much lower. I initiate with a HOLD recommendation and a $2.19/share target price.This article was written by Cavenagh Research.","news_type":1},"isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9049987655,"gmtCreate":1655737149277,"gmtModify":1676535695213,"author":{"id":"3585615308723556","authorId":"3585615308723556","name":"FCKang","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3585615308723556","authorIdStr":"3585615308723556"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9049987655","repostId":"2244176410","repostType":2,"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9055836085,"gmtCreate":1655255302247,"gmtModify":1676535596880,"author":{"id":"3585615308723556","authorId":"3585615308723556","name":"FCKang","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3585615308723556","authorIdStr":"3585615308723556"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055836085","repostId":"2243484620","repostType":4,"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
