GrubHub Inc (GRUB) was Reiterated by Canaccord Genuity to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 42 from a previous price target of $34 . Canaccord Genuity advised their investors in a research report released on Jul 29, 2016.
Many Wall Street Analysts have commented on GrubHub Inc. GrubHub Inc was Downgraded by BofA/Merrill to ” Neutral” on Jul 29, 2016. GrubHub Inc was Downgraded by Monness Crespi & Hardt to ” Neutral” on Jul 29, 2016. GrubHub Inc was Downgraded by Maxim Group to ” Hold” on Jul 29, 2016.
On the company’s financial health, GrubHub Inc reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.19. The company had revenue of $120.20 million for the quarter, compared to analysts expectations of $114.25 million. The company’s revenue was up 36.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS.
GrubHub Inc opened for trading at $35.37 and hit $39.29 on the upside on Thursday, eventually ending the session at $38.15, with a gain of 24.11% or 7.41 points. The heightened volatility saw the trading volume jump to 1,42,93,617 shares. Company has a market cap of $3,232 M.
In a different news, on Jul 20, 2016, Matthew M. Maloney (CEO and President) sold 14,491 shares at $29.99 per share price. According to the SEC, on Jul 15, 2016, Margo Drucker (SVP, Secretary, Gen Counsel) sold 5,271 shares at $29.88 per share price. On Jul 14, 2016, Adam Dewitt (CFO and Treasurer) sold 5,000 shares at $31.04 per share price, according to the Form-4 filing with the securities and exchange commission.
GrubHub Inc. is an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 30000 local restaurants with diners in more than 800 cities across the United States. The Companys target market is primarily composed of independent restaurants. The Company provides diners on the platform with a personalized platform that helps them search for local restaurants and then place an order from an Internet-connected device. It also provides diners with information about their orders and status. In addition the Company enables re-ordering by storing previous orders preferences and payment information. The Companys products include GrubHub and seamless Websites GrubHub and seamless mobile applications and mobile Website seamless corporate program allmenus and menupages orderhub and boost restaurant Websites and delivery.