GrubHub (GRUB) Delivered Dish Deal Helps Geographically - Cowen

Cowen reiterated a Market Perform rating and $22.00 price target on GrubHub Inc. (NYSE: GRUB) following the company's Delivered Dish ('DDish') acquisition. DDish is a Portland, OR-based restaurant delivery service founded in 2002 and serving 785 restaurant customers in 7 cities. The terms of the deal were not disclosed. The deal is small but helps GrubHub geographically & in courier buildout.

Analyst Kevin Kopelman commented, "GrubHub acquired Delivered Dish ('DDish'), a Portland-based delivery service with 785 restaurants in 7 cities. Terms were not disclosed, but we est. deal at $10-20M. GrubHub did not update its FY15 guide or target of $175M run-rate delivery gross food sales. The deal is small but helps GrubHub geographically & in courier buildout. Q4 benefit (~1%) likely offset by strong El Niño. Details below."

For an analyst ratings summary and ratings history on GrubHub Inc. click here. For more ratings news on GrubHub Inc. click here.

Shares of GrubHub Inc. closed at $24.22 yesterday.

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