GrubHub Inc (GRUB) is Upgraded by BofA/Merrill to Buy

GrubHub Inc (GRUB) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on GrubHub Inc. GrubHub Inc was Initiated by Argus to “Buy” on Oct 12, 2016. Stifel Downgraded GrubHub Inc on Oct 4, 2016 to ” Hold”, Price Target of the shares are set at $45.Company shares were Reiterated by Canaccord Genuity on Sep 27, 2016 to “Buy”, Firm has raised the Price Target to $ 48 from a previous price target of $42 .

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 closed down -1.18 points or -2.89% at $39.66 with 19,53,694 shares getting traded on Tuesday. Post opening the session at $40.62, the shares hit an intraday low of $39.35 and an intraday high of $40.91 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 11, 2016, Matthew M. Maloney (CEO and President) sold 139,491 shares at $40.88 per share price. According to the SEC, on Oct 11, 2016, Adam Dewitt (CFO and Treasurer) sold 5,000 shares at $40.77 per share price. On Sep 16, 2016, Margo Drucker (SVP, Secretary, Gen Counsel) sold 1,054 shares at $41.48 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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