GrubHub closes down 7.8% after news of Amazon's NYC food delivery move

• GrubHub (NYSE:GRUB), which opened to the downside after Amazon.com (AMZN -2.2%) expanded its restaurant delivery offering into New York and Dallas, finished the day down 7.8% to hit its lowest point in nearly two months.
• Amazon's service is free with Prime membership and promises no markups from restaurants' online menus -- a move that Axiom analyst Victor Anthony says is a "long-term positive for Prime in that it is expected to increase retention."
• What's good for Amazon is bad for GrubHub, though: It's a "negative read through for the shares of GrubHub and other private food delivery services."
• Overall, GrubHub still has a consensus rating of Buy (and average price target just under $33, implying 42% upside), though seven analysts maintain Hold ratings on the stock.
• Now read GrubHub: It Will Only Get Worse »