Goldman Sachs Initiated Coverage On GrubHub
Analysts at Goldman Sachs initiated coverage of GrubHub Inc (NYSE: GRUB) on Friday with an Outperform rating. GrubHub is an online and mobile food ordering platform.
Growing Business
In October, GrubHub announced Q3 2014 earnings of $0.08 per share, beating consensus estimates by $0.02. Revenue of $61.9 million for the quarter also beat consensus estimates of $57.4 million and represented 51 percent year-over-year growth.
Other Analyst Action
Oppenheimer also initiated coverage last week by issuing an Outperform rating and setting a $42.00 price target. In late October, Zacks upgraded GrubHub from Neutral to Outperform and set a target of $38.10. Citigroup reiterated a Buy rating in October and raised their price target from $41.00 to $44.00.
Major Upside
GrubHub stock was up about 2 percent on news of Goldman’s Buy rating. Oppenheimer’s $42 price target represents a 16.7 percent upside for the stock from current levels. Citgroups $44 target suggests 22.2 percent upside. GrubHub shareholders have had a decent year in 2014. The stock is up 5.2 percent year-to-date.
Insider Selling
Three GrubHub insiders have sold shares of the company’s stock this month. GrubHub President Jonathan Zabusky sold nearly $830,000 worth of GrubHub stock at around $33 per share earlier in December.
Latest Ratings for GRUB
Dec 2014 | Goldman Sachs | Upgrades | Neutral | Buy |
Oct 2014 | Citigroup | Maintains | Buy | |
Oct 2014 | Brean Capital | Initiates Coverage on | Hold |
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