GrubHub Inc (GRUB) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.19. The company posted revenue of $120.20 million in the period, 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.
Many Wall Street Analysts have commented on GrubHub Inc. Wedbush Initiated GrubHub Inc on Jul 8, 2016 to “Outperform”, Price Target of the shares are set at $40.Company shares were Reiterated by Mizuho on Jun 22, 2016 to “Buy”, Firm has raised the Price Target to $ 33 from a previous price target of $28 .Monness Crespi & Hardt Upgraded GrubHub Inc on Jun 6, 2016 to ” Buy”, Price Target of the shares are set at $33.
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.