Canaccord Genuity Reaffirms Their Buy Rating on GrubHub (GRUB)

By Carrie Williams

In a report released yesterday, Maria Ripps from Canaccord Genuity maintained a Buy rating on GrubHub (GRUBResearch Report), with a price target of $55.00. The company’s shares closed last Monday at $55.60.

According to TipRanks.com, Ripps has 0 stars on 0-5 star ranking scale with an average return of -7.3% and a 42.2% success rate. Ripps covers the Technology sector, focusing on stocks such as Facebook, Alphabet, and Twitter.

GrubHub has an analyst consensus of Hold, with a price target consensus of $49.45, which is a -13.4% downside from current levels. In a report issued on January 31, Credit Suisse also maintained a Buy rating on the stock with a $64.00 price target.

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Based on GrubHub’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $27.72 million. In comparison, last year the company had a GAAP net loss of $5.15 million.

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Grubhub, Inc. operates as an online and mobile food-ordering company, which connects 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.