Grubhub (GRUB): Generally Fine Results - Susquehanna

Susquehanna analyst, Shyam Patil, reiterated his Neutral rating on shares of GrubHub Inc. (NYSE: GRUB) and raised his price target to $60 from $44 after the company reported revenue of $163m (32% y/y) which was generally in-line with consensus after adjusting for the acquisitions. Management also commented that several smaller factors like the hurricanes impacted top line by two to three points. EBITDA of $43m (26% margins) came in 7% above consensus.

The analyst stated "We believe 12-month forward multiples near the company's lows since becoming public for EV/EBITDA and EV/revenue represent the likely downside risk scenario at the present time. Using a blended ~15x 2018 EV/EBITDA and ~4x EV/revenue, we believe the downside risk is
$45".

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 $57.79 yesterday.

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