10 Best Low Priced Technology Stocks To Buy Now

2. Grab Holdings Limited (NASDAQ:GRAB)

Share Price as of December 24: $4.94

Number of Hedge Fund Holders: 39

Grab Holdings Limited (NASDAQ:GRAB) is a leading technology company based in Singapore, known for its super-app that combines mobility, food delivery, and digital financial services. Operating across eight Southeast Asian countries, the company serves over 700 cities, making it a vital platform for millions who rely on it for ordering food, hailing rides, and managing payments. Grab Holdings Limited (NASDAQ:GRAB) ranks among the best low-priced stocks in the technology sector.

In the third quarter of 2024, Grab Holdings Limited (NASDAQ:GRAB) reported impressive financial results. Revenue increased by 17% year-over-year, reaching $716 million. On-Demand Gross Merchandise Value (GMV) also grew by 15%, totaling $4.7 billion. This growth is attributed to the company’s strategic investments that have significantly boosted user engagement and transaction volumes. Notably, Grab Holdings Limited (NASDAQ:GRAB) achieved an all-time high Adjusted EBITDA of $90 million, marking its eleventh consecutive quarter of improvement.

For the third quarter, the number of Monthly Transacting Users on the platform rose to 42 million, reflecting a 16% year-on-year increase. This marked the sixth sequential quarter of growth. This growth in users is a strong indicator of Grab Holdings Limited’s (NASDAQ:GRAB) expanding market presence and potential for future revenue growth. The company’s ability to enhance user experience and optimize its services has contributed to this positive trend.

Additionally, Grab Holdings Limited (NASDAQ:GRAB) is actively managing its capital through a $500 million share repurchase program, having bought back 17.7 million shares worth approximately $58.2 million during the third quarter. This move not only signals confidence in the company’s future but also aims to enhance shareholder value. Given these solid financial results and strategic initiatives, Grab Holdings Limited (NASDAQ:GRAB) presents a compelling investment option. The company’s consistent revenue growth and expanding user base make it well-positioned for continued success in the Southeast Asian market.