GrubHub Inc (GRUB) was Upgraded by Monness Crespi & Hardt to ” Buy” and the brokerage firm has set the Price Target at $33. Earlier the firm had a rating of “Neutral ” on the company shares. Monness Crespi & Hardt advised their investors in a research report released on Jun 6, 2016.
Many Wall Street Analysts have commented on GrubHub Inc. Maxim Group Initiated GrubHub Inc on Jun 3, 2016 to “Buy”, Price Target of the shares are set at $33.GrubHub Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on May 4, 2016. Shares were Reiterated by Canaccord Genuity on May 4, 2016 to “Buy” and Lowered the Price Target to $ 34 from a previous price target of $35 .
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 $27.92 and hit $28.59 on the upside on Friday, eventually ending the session at $28.54, with a gain of 2.92% or 0.81 points. The heightened volatility saw the trading volume jump to 20,39,754 shares. Company has a market cap of $2,418 M.
In a different news, on Jun 2, 2016, Margo Drucker (SVP, Secretary, Gen Counsel) sold 3,100 shares at $25.00 per share price. According to the SEC, on Jun 2, 2016, Matthew M. Maloney (CEO and President) sold 11,193 shares at $25.10 per share price. On May 31, 2016, Benjamin C. Spero (director) sold 500,000 shares at $24.54 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.