Wedbush Reiterates Outperform on GrubHub (GRUB); Traffic Implies Seasonality Impact
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush reiterated an Outperform rating and $47.00 price target on GrubHub Inc. (NYSE: GRUB). Traffic data from comScore shows August traffic to GRUB sites declined slightly on a sequential basis (-2%), but grew 43% YoY representing the highest YoY growth rate in the past five months. Traffic to key competitor sites Eat24, UberEats, and OrderUp all declined in August at a more precipitous rate than GRUB.
Analyst Aaron Turner commented, "We believe GRUB is the market leader in the growing online restaurant takeout and delivery space and will continue to benefit from its early lead and superior size and scale."
Shares of GrubHub Inc. closed at $41.17 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PacWest Bancorp (PACW) PT Raised to $60.50 at FIG Partners Following 4Q Report
- Polaris Industries (PII) PT Raised to $85 at Stifel Ahead of 4Q Report
- Drexel Hamilton Reiterates Buy on IBM (IBM) Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!