Canaccord Genuity Keeps Their Buy Rating on GrubHub

By Ryan Adsit

In a report released yesterday, Michael Graham from Canaccord Genuity reiterated a Buy rating on GrubHub (NYSE: GRUB), with a price target of $47. The company’s shares closed yesterday at $42.83.

According to TipRanks.com, Graham is a 5-star analyst with an average return of 12.5% and a 58.3% success rate. Graham covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, The Meet Group Inc, and Spark Networks Plc.

Currently, the analyst consensus on GrubHub is Moderate Buy and the average price target is $45.80, representing a 6.9% upside.

In a report issued on May 22, Roth Capital also maintained a Buy rating on the stock.

Based on GrubHub’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $156 million and quarterly net profit of $17.72 million. In comparison, last year the company earned revenue of $112 million and had a net profit of $9.93 million.

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GrubHub, Inc. operates as an online and mobile food-ordering company, which connects hungry diners with local takeout restaurants. Its online and mobile ordering platforms allow diners and corporate businesses to order directly from takeout restaurants in the United States and London. The company’s brands include GrubHub, Seamless, MenuPages and Allmenus. The company was founded on August 8, 2013 and is headquartered in Chicago, IL.