GrubHub Inc (GRUB) is Reiterated by Canaccord Genuity to Buy, Lowers Price Target to $ 34

GrubHub Inc (GRUB) was Reiterated by Canaccord Genuity to “Buy” while Lowering the Price Target of the company shares to $ 34 from a previous price target of $35 . Canaccord Genuity advised their investors in a research report released on May 4, 2016.

Many Wall Street Analysts have commented on GrubHub Inc. GrubHub Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on May 4, 2016. Company shares were Reiterated by Mizuho on May 3, 2016 to “Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .GrubHub Inc was Initiated by Pacific Crest to “Sector Weight” on Apr 8, 2016.

On the company’s financial health, GrubHub Inc reported $0.20 EPS for the quarter, based on the information available during the earnings call on May 3, 2016. Analyst had a consensus estimate of $0.20. The company had revenue of $112.20 million for the quarter, compared to analysts expectations of $111.31 million. The company’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS.

GrubHub Inc opened for trading at $26.25 and hit $26.94 on the upside on Monday, eventually ending the session at $26.54, with a gain of 1.22% or 0.32 points. The heightened volatility saw the trading volume jump to 36,59,670 shares. Company has a market cap of $2,245 M.

In a different news, on Apr 29, 2016, Matthew M. Maloney (CEO and President) sold 11,193 shares at $26.24 per share price. According to the SEC, on Apr 22, 2016, Margo Drucker (SVP, Secretary, Gen Counsel) sold 3,100 shares at $26.72 per share price. On Apr 15, 2016, Adam Dewitt (CFO and Treasurer) sold 5,000 shares at $25.00 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 Company’s 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 Company’s 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.

GrubHub Inc

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