Revenue climbed 38% to $85.7 million, compared with the company’s expectations for $85 million to $87 million.
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Shares are trading at $24.26 today, just a bit above a 52-week low of $22.49. “While we like the business and long-term opportunity, we believe lingering issues around competition, decelerating growth, and margin pressure are likely to continue to weigh on the stock, capping potential near-term upside”, says Susquehanna’s Shyam Patil, who lowered the firm’s price target to $25, from $44.
The company earned almost $6.9 million in the third quarter, up 6 percent from about $6.5 million in the third quarter of 2014.
Analysts predicted that the company’s fourth-quarter revenue would reach $101 million, but the company revised its forecast for the fourth-quarter, with figures between $98 million and $100 million. The Insider selling transaction was disclosed on October 19, 2015 to the Securities and Exchange Commission. Also, CEO Matthew M. Maloney sold 2,790 shares of the stock in a transaction on Tuesday, October 13th. The company has a market cap of $2,072 million and there are 84,622,254 shares in outstanding. The stock has a 50 day moving average of $27.81 and a 200-day moving average of $33.51.
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GrubHub, Inc.is an online and mobile platform for restaurant pick-up and delivery orders. The Company’s target market is primarily independent restaurants. The Company joins more than 30,000 local eateries with diners in more than 800 cities across the United States. Additionally, it provides diners with information regarding their orders and status. The Chicago company’s fast growth was helped by its merger with Seamless in August 2013.
