Thu, Apr. 9, 7:12 PM
- GrubHub (NYSE:GRUB) slipped 2.9% today on more than double average volume, as Wunderlich launched coverage on the stock at Hold.
- The analysts were bullish on food/grocery delivery overall, but wrote that GrubHub may struggle to scale beyond "Tier-1" cities -- where it will face higher competition from other well-funded entrants.
- Negatives including indirect competition (see Yelp's acquisition of Eat24) outweigh the positives of a "huge," fragmented market, the analysts say.
- Wunderlich set a $44 price target, about a 2.7% downside from yesterday's close, and the stock responded in kind, closing today at $43.91.
Mon, Mar. 2, 5:37 PM
Wed, Feb. 25, 5:47 PM
- As part of a broader Internet sector launch, Morgan Stanley has launched coverage on YELP and GrubHub (NYSE:GRUB) with Overweight ratings, and on Expedia (NASDAQ:EXPE) and InterActiveCorp (NASDAQ:IACI) with Underweight ratings, after the close. YELP +2% AH. GRUB +2.5%. EXPE -1.4%. IACI -1%.
- Yelp was upgraded by Brean two weeks ago, shortly after the company hiked its Q1/2015 guidance and announced it's buying online food-ordering service Eat24.
- GrubHub rallied three weeks ago following a Q4 beat, and received bullish coverage from Barclays last week.
- Expedia tumbled three weeks ago thanks to a Q4 miss and light 2015 guidance, but reversed course after announcing it's buying Orbitz and thereby bolstering its U.S. online travel leadership position.
- IAC sold off earlier this month following its Q4 beat, but has since more than recovered its losses.
Fri, Feb. 6, 12:00 PM
- After its 6.1% gain yesterday on its Q4 earnings beat, GrubHub (NYSE:GRUB) is up another 3.1% so far today on positive analyst coverage.
- Brean Capital has upgraded to Buy from Hold, and set a $45 price target.
- Oppenheimer maintains an Outperform rating on the shares and today boosted its price target to $50 from $42.
- Shares currently trade at $41.
- Previously: GrubHub beats by $0.02, beats on revenue (Feb. 05 2015)
Thu, Feb. 5, 10:19 AM
- Along with GrubHub's (NYSE:GRUB) Q4 beat, the firm's made a strategic move into owning the food delivery experience with the closing of its acquisition of DiningIn and an agreement to acquire Restaurants on the Run.
- The deals give GrubHub delivery execution for nearly 3,000 U.S. restaurants, and it points to economies of scale, more diner choice and improved diner experience with GrubHub's visibility into each order from start to finish.
- Non-GAAP adjusted EBITDA increased 92% Y/Y to $25M. Active diners were 5.03M (up 47%); "Daily Average Grubs" were 202.7K, up 33%.
- Gross food sales of $508M, up 37%.
- The company is guiding for Q1 revenue of $83M-85M and adjusted EBITDA of $24M-$26M; for full 2015, guiding for revenue of $335M-350M and adjusted EBITDA of $100M-108M. Guidance includes impact of DiningIn from its Feb. 4 completion, but excludes Restaurants on the Run.
- GRUB shares up 9%.
Tue, Jan. 27, 2:24 PM
- Online restaurant food delivery leader GrubHub (NYSE:GRUB) -- owner of the Seamless service -- is off 2.6% today on standard volume.
- A ban on "non-essential" vehicle traffic as winter storm Juno moved into the Northeast led GrubHub to suspend service Monday in Greater New York, New Jersey, Rhode Island, Connecticut and Boston. (Service is now beginning to resume in NY, NJ and Connecticut.)
- “Nothing that has to do with leisure or convenience or takeout food or going to the movies — we’re not doing that," said New York Mayor Bill de Blasio.
- In contrast, though, Citigroup analysts note GrubHub's search volumes have remained seasonally consistent throughout various winter storms. "We did have orders last night," CEO Matt Maloney said today.
Dec. 16, 2014, 10:41 AM
- Goldman's Heath Terry has upgraded GrubHub (GRUB) to Buy, and hiked his target by $1 to $43.
- Terry: "With the most at scale platform of the food delivery websites, GrubHub is well positioned to capture much of the early stage growth in diner penetration and restaurant coverage needed to take share of the $77bn takeout and delivery market in the US."
- He's not concerned about GrubHub's steep multiples, given its growth prospects. "With the stock trading at 24X 2015E EV/EBITDA on 29% sales growth over the next 3 years vs. the Internet median of 17X on 22% growth with considerable room for upside to estimates, we believe the risk/reward ratio in owning GrubHub is favorable."
- Shares remain above their $26 IPO price, but also well below their $40 opening trade. JMP provided bullish coverage in October.
Oct. 23, 2014, 9:10 AM
Sep. 22, 2014, 1:45 PM
- High-beta tech stocks are selling off hard as the Nasdaq registers a 1.3% decline. The selling is broad-based, with Internet, solar, and enterprise tech stocks all well-represented among the ranks of major decliners.
- Major Internet decliners: BIDU -4.7%. ANGI -7%. YELP -5.9%. AWAY -5.1%. CHGG -5.9%. GRUB -5.8%. P -5.2%. Z -4.6%. TRLA -4.8%. ATHM -7.9%. BITA -7%. DANG -5.9%. WB -5.3%.
- Solar: FSLR -4.5%. SCTY -7.5%. SPWR -4.5%. DQ -7.6%. JKS -5.5%. ASTI -6.3%. ENPH -5.5%. CSIQ -4.8%.
- Enterprise: WDAY -5.4%. GIMO -6.7%. VMEM -7.7%. IMPV -4.8%. MKTO -4.9%. SPRT -5.1%. CSOD -5.5%.
- Others: HIMX -4.6%. SIGM -5.6%. WATT -9.7%. CYNI -5.3%. ADNC -5.7%. PXLW -5%. SWIR -5.8%. MITK -6%. OCLR -6%.
Aug. 25, 2014, 10:28 AM
Jun. 13, 2014, 12:15 PM
- GrubHub (GRUB +7.8%), LiveDeal (LIVE +3.9%), and Coupons.com (COUP +6.9%) have joined Yelp, Groupon, and others in rallying following Priceline's $2.6B deal to buy restaurant reservation bookings kingpin OpenTable.
- LiveDeal runs a restaurant deals platform, and GrubHub runs the top U.S. online restaurant deliver/takeout platform. Coupons.com provides online grocery coupons.
- Yesterday: LiveDeal jumps after reporting strong traffic growth
Jun. 13, 2014, 9:11 AM
May. 8, 2014, 4:46 PM
May. 7, 2014, 10:50 AM
- Has irrational exuberance given way to panic selling? Internet stocks are off again today, as the Street registers disappointment with earnings reports from AOL, Groupon, Zulily, SouFun, 500.com, and King.
- Yahoo (YHOO -6.2%) has fallen below $35 as the Street digests Alibaba's IPO filing. Twitter (TWTR -4.4%), crushed yesterday following its lockup expiration, briefly cracked $30 before rebounding a bit.
- Other decliners: QIHU -8.9%. BITA -7.2%. GOMO -7%. TRLA -5.2%. MELI -4.7%. ANGI -4.6%. Z -4%. YOKU -5.5%. CTRP -5.3%. WUBA -5.3%. JOBS -5.1%. GRUB -4%.
- Internet/social media ETFs: PNQI, SOCL, FDN
Apr. 29, 2014, 9:48 AM
- Chegg (CHGG +6.7%) has been upgraded to Buy by BofA/Merrill ahead of Thursday's Q1 report.
- AudioCodes (AUDC +2.5%) has been started at Outperform by William Blair ahead of tomorrow's Q1 report.
- IT hardware distributors Tech Data (TECD +2%) and Ingram Micro (IM +2%) have been upgraded to Outperform by Raymond James.
- IPO underwriters have assigned four bullish ratings, and one neutral rating, to GrubHub (GRUB -0.1%), and six bullish ratings to Five9 (FIVN +6.4%).
- Advent Software (ADVS +3.8%) has been upgraded to Buy by Sandler O'Neill after posting Q1 results yesterday afternoon. Advent guided for Q2 revenue of $96M-$98M (below a $99.2M consensus), and full-year revenue of $395M-$403M (in-line with a $400.2M consensus). The company also announced a $0.13/share quarterly dividend (1.9% yield).
Apr. 4, 2014, 9:59 AM
GRUB vs. ETF Alternatives
Other News & PR