Wedbush Initiates Coverage on GrubHub Inc to Outperform

Wedbush Initiates Coverage on GrubHub Inc(NYSE:GRUB). The shares have been rated Outperform. The rating by Wedbush was issued on Jul 8, 2016.

In a different note, On Jun 6, 2016, Monness Crespi Hardt said it Upgrades its rating on GrubHub Inc. The shares have been rated ‘Buy’ by the firm. Maxim Group said it Initiates Coverage on GrubHub Inc, according to a research note issued on Jun 3, 2016. The shares have been rated ‘Buy’ by the firm. On May 4, 2016, Morgan Stanley said it Downgrades its rating on GrubHub Inc. In the research note, the firm Lowers the price-target to $37.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

GrubHub Inc (GRUB) shares turned negative on Wednesdays trading session with the shares closing down -1 points or -3.16% at a volume of 22,94,217. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $32.14. The peak price level was also seen at $32.14 while the days lowest was $29.92. Finally the shares closed at $30.66. The 52-week high of the shares is $36.31 while the 52-week low is $17.77. According to the latest information available, the market cap of the company is $2,597 M.

GrubHub Inc(GRUB) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $112.24M. Analysts had an estimated revenue of $111.31M. Earnings per share were $0.20. Analysts had estimated an EPS of $0.20.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, Matthew M. Maloney (CEO and President) sold 14,491 shares at $30.23 per share price.Also, On Jul 7, 2016, Adam Dewitt (CFO and Treasurer) sold 5,000 shares at $30.28 per share price.On Jun 27, 2016, Margo Drucker (SVP, Secretary, Gen Counsel) sold 6,325 shares at $29.38 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.

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