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GRUB $59.89

GRUB target price
59.89
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GrubHub Inc
Type
Public
Traded as NYSE: GRUB
Industry Online platform for restaurant pick-up and delivery
Founder Michael "Mike" Evans and Matthew Mayer "Matt" Maloney
Headquarters Chicago, Illinois, U.S.
Area served
United States
Key people
Matthew Mayer "Matt" Maloney, Chief Executive Officer and President
Brian McAndrews, Chairman of the Board
Revenue Increase $493.331 million (2016)
Net income
Increase $49.557 million (2016)
Total assets Increase $1.198 billion (2016)
Website www.grubhub.com

Grubhub is an online and mobile food-ordering company that connects diners with local restaurants. Based in Chicago, the company has more than 9.18 million active diners, and more than 55,000 restaurant partners in over 1,100 cities across the United States and the United Kingdom.

In 1999, Seamless was founded by two lawyers, Jason Finger and an associate, fed up with out-of-date paper menus. In 2004, Grubhub was founded by Matthew Maloney and Michael Evans, two web developers looking for an alternative to paper menus.

In 2013, Grubhub and Seamless merged. The combined organization, Grubhub, went public in April 2014 and trades on the New York Stock Exchange (NYSE) under the ticker symbol "GRUB".

Grubhub's executives include:

As of Q2 2017, the company processes more than 313,900 orders/day and has 9.18 million active diners.

Grubhub's portfolio of brands includes OrderUp, Seamless, AllMenus, MenuPages, Restaurants on the Run, DiningIn, Delivered Dish, and LAbite. Diners who order through Grubhub's website or mobile apps—for iOS and Android devices—can pay with cash, credit or PayPal. Seamless is an online and mobile food ordering platform that connects diners with local restaurants. It serves consumer diners as well as corporate businesses in the U.S. and London.

MenuPages was acquired by Seamless in September 2011. Allmenus was acquired by Grubhub in September 2011. DiningIn, an online ordering and food delivery company based in Brighton, Massachusetts, was acquired by Grubhub in February 2015. DiningIn operates in Boston, Chicago, Dallas, Philadelphia, and the Twin Cities. Restaurants on the Run, a corporate food delivery company based in Aliso Viejo, California, was acquired by Grubhub in February 2015, operating in Orange County, San Diego, Inland Empire, Los Angeles, San Francisco, Las Vegas, Seattle, Houston, Tulsa & Chicago.

In December 2015, Grubhub acquired Delivered Dish, a restaurant delivery service in seven markets across the Pacific Northwest and Southwest, including Denver, Las Vegas, San Diego, Portland, El Paso, and Albuquerque. LAbite, one of the largest restaurant delivery services in the U.S., was acquired by Grubhub in May 2016. Most of LAbite's volume comes from the Greater Los Angeles area.

In August 2017, Grubhub entered into an agreement to acquire Eat24 from Yelp for $287.5 million, subject to regulatory review.

Chicago-based Grubhub was founded in 2004 by Mike Evans and Matt Maloney, looking for an alternative to paper menus. Two years later, in 2006, Maloney and Evans won first place in the University of Chicago Booth School of Business's Edward L. Kaplan New Venture Challenge with the business plan for Grubhub.

In November 2007, Grubhub secured $1.1 million in Series A funding (led by Amicus Capital and Origin Ventures), which enabled market expansion into San Francisco and New York.

In March 2009, Grubhub earned $2 million in Series B funding, led by Origin Ventures and Leo Capital, which was followed by $11 million in Series C funding, led by Benchmark Capital in November 2010. $20 million in Series D funding was raised (led by DAG Ventures) in March 2011.

In September 2011, Grubhub secured $50 million in Series E funding and acquired New York-based competitor Dotmenu, the parent company of Allmenus and Campusfood. In December 2015, Grubhub acquired Delivered Dish, a restaurant delivery service in seven markets across the Pacific Northwest and Southwest, including Denver, Las Vegas, San Diego, Portland, El Paso and Albuquerque. LAbite, a Los Angeles-based restaurant delivery service, was acquired by Grubhub in May 2016.

In 1999, New York lawyer Jason Finger founded SeamlessWeb to provide companies with a web-based system for ordering food from restaurants and caterers. Six years later, in 2005, SeamlessWeb introduced a free ordering service to consumer diners to complement the existing corporate-ordering service. In April 2006, SeamlessWeb was acquired by Aramark and integrated into its Food, Hospitalities, and Facilities segment.

Jonathan Zabusky was named President of Seamless in 2009, and by June 2011, Seamless was re-privatized, as Boston-based Spectrum Equity Associates invested $50 million for a minority stake in the company from Aramark. The company then changed its name from SeamlessWeb to Seamless.

In September 2011, Seamless acquired MenuPages, and in February 2012, Seamless introduced the industry's first iPad app.

In May 2013, Grubhub and Seamless announced that they were merging, with Seamless representing 58% of the equity and GrubHub representing 42% of the equity of the combined business; the merger was finalized in early August 2013.

Grubhub went public in April 2014 and trades on the New York Stock Exchange (NYSE) under the ticker symbol "GRUB".

In June 2014, Grubhub began offering delivery to restaurants that don't operate their own delivery service. The company is now delivering in more than 50 markets across the U.S. (publicly announced markets include Atlanta, Phoenix, Philadelphia, Los Angeles, San Francisco/Bay Area, D.C., Southeast Florida, Portland, Denver, Pittsburgh, Detroit, San Diego, Brooklyn/Queens (NYC), Chicago and Las Vegas). More than 5,000 restaurants are now using Grubhub delivery.

Grubhub's UK competitors are Deliveroo, Just Eat, and Hungryhouse. In the US, its competitors include UberEATS, Postmates, and Amazon Restaurants.

On November 10, 2016, after the victory of President-elect Donald Trump in the general election, Grubhub President and CEO Matt Maloney, sent a company-wide memo to employees saying that he rejected "nationalist, anti-immigrant and hateful politics of Donald Trump". The Washington Times reported that Maloney "unleashed a political screed after the Nov. 8 election and said that those who disagree with its [the majority of the company personnel's] anti-Trump views should resign."

After a Twitter boycott campaign was initiated, Maloney later claimed his words were "misconstrued", adding "I want to clarify that I did not ask for anyone to resign if they voted for Trump. I would never make such a demand. To the contrary, the message of the email is that we do not tolerate discriminatory activity or hateful commentary in the workplace, and that we will stand up for our employees." In a tweet that was later deleted, Maloney added: "To be clear, Grubhub does not tolerate hate and we are proud of all our employees - even those who voted for Trump." By Thursday night, the hashtag #BoycottGrubHub was trending on Twitter.

On November 11, 2016, after the controversy, the company's shares dropped 5.93%.

CEO Matt Maloney, in addition to other Grubhub Inc. executives, sells shares on a schedule throughout the year.

On October 24, 2016, Matt Maloney (the company's President/CEO) sold 14,491 shares of the stock at an average price of $43.55, for a total value of $631,083.05.

On November 7, Maloney sold 14,491 shares of the company's stock at a price of $37.80, for a total transaction of $547,759.80 in personal profit. Following the sales, Maloney now directly owns 1,649 shares of the company stock, valued at approximately $62,332.20. The transaction was disclosed in a filing with the Securities & Exchange Commission.

On December 21, 2016, Maloney sold 14,491 shares at $37.46 per share price, according to the Form-4 filing with the securities and exchange commission.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q2 2021 2021-07-28 Future report Set alerts
Q1 2021 2021-04-28 -0.56 -0.56
Q4 2020 2021-02-03 -0.41 -0.41
Q3 2020 2020-10-28 0.00 0.00
Q2 2020 2020-07-30 -0.17 -0.49
Q1 2020 2020-05-06 0.00 -0.36
Q4 2019 2020-02-05 -0.05 -0.30
Q3 2019 2019-10-28 0.27 0.01
Q2 2019 2019-07-30 0.27 0.01
Q1 2019 2019-04-25 0.30 0.07

Ratings

2016-07-08 Initiated Coverage Wedbush Outperform $40.00
2016-06-22 Boost Price Target Mizuho Buy $28.00 to $33.00
2016-06-06 Upgrade Monness Crespi & Hardt Neutral to Buy $33.00
2016-06-03 Initiated Coverage Maxim Group Buy $33.00
2016-05-14 Reiterated Rating Morgan Stanley Hold
2016-05-10 Boost Price Target Cowen and Company Positive $20.00 to $22.00
2016-05-04 Lower Price Target Canaccord Genuity Buy $35.00 to $34.00
2016-05-04 Downgrade Morgan Stanley Overweight to Equal Weight $37.00 to $30.00
2016-05-04 Reiterated Rating Goldman Sachs Buy $28.00 to $31.00
2016-05-04 Reiterated Rating Goldman Sachs Group Inc. Buy $28.00 to $31.00
2016-05-03 Boost Price Target Mizuho Buy $26.00 to $28.00
2016-05-02 Reiterated Rating Mizuho Buy $26.00 to $28.00
2016-04-21 Reiterated Rating Pacific Crest Sector Perform
2016-04-09 Reiterated Rating Morgan Stanley Buy
2016-04-08 Initiated Coverage Pacific Crest Sector Weight
2016-02-06 Reiterated Rating Susquehanna Neutral $19.00 to $24.00
2016-02-05 Reiterated Rating Brean Capital Buy
2016-02-05 Reiterated Rating Canaccord Genuity Buy $40.00 to $35.00
2016-02-05 Downgrade Oppenheimer Outperform to Market Perform $30.00
2016-02-05 Lower Price Target RBC Capital Sector Perform $27.00 to $26.00
2016-02-05 Lower Price Target Royal Bank Of Canada Sector Perform $27.00 to $26.00
2016-02-05 Downgrade Oppenheimer Holdings Inc. Outperform to Market Perform $30.00
2016-02-01 Reiterated Rating RBC Capital Sector Perform $27.00 to $26.00
2016-01-26 Reiterated Rating Brean Capital Buy $29.00
2016-01-25 Reiterated Rating RBC Capital Sector Perform $27.00
2016-01-22 Reiterated Rating William Blair Buy
2016-01-21 Reiterated Rating Cowen and Company Hold
2016-01-03 Reiterated Rating Cowen and Company Hold
2015-12-28 Reiterated Rating Cowen and Company Hold $22.00
2015-12-16 Downgrade Northland Securities Outperform to Market Perform $30.00 to $25.00
2015-12-08 Reiterated Rating Cowen and Company Hold $22.00
2015-12-02 Initiated Coverage Mizuho Buy $31.00
2015-11-01 Reiterated Rating Sterne Agee CRT Buy $37.00 to $32.00
2015-10-28 Reiterated Rating Cowen and Company Hold $25.00 to $22.00
2015-10-28 Reiterated Rating Barclays Hold $32.00 to $28.00
2015-10-28 Lower Price Target Oppenheimer Outperform $45.00 to $30.00
2015-10-28 Downgrade Susquehanna Positive to Neutral $44.00 to $25.00
2015-10-28 Reiterated Rating Brean Capital Buy $50.00 to $29.00
2015-10-28 Lower Price Target Northland Securities Outperform $40.00 to $30.00
2015-10-28 Downgrade RBC Capital Outperform to Sector Perform $42.00 to $27.00
2015-10-28 Lower Price Target JMP Securities $55.00 to $35.00
2015-10-28 Reiterated Rating Barclays PLC Hold $32.00 to $28.00
2015-10-27 Downgrade Raymond James Strong-Buy to Outperform
2015-10-27 Downgrade Raymond James Financial Inc. Strong-Buy to Outperform
2015-10-23 Reiterated Rating RBC Capital Outperform $42.00
2015-10-20 Reiterated Rating Brean Capital Buy $50.00
2015-10-07 Reiterated Rating RBC Capital Buy $42.00
2015-09-23 Reiterated Rating Sterne Agee CRT Buy $56.00 to $37.00
2015-09-16 Lower Price Target Cowen and Company Market Perform $30.00 to $25.00
2015-08-28 Reiterated Rating Brean Capital Buy $50.00
2015-08-27 Reiterated Rating Cowen and Company Market Perform $30.00
2015-08-26 Downgrade Barclays Overweight to Equal Weight $42.00 to $32.00
2015-08-10 Initiated Coverage Susquehanna Positive $44.00
2015-07-29 Reiterated Rating Brean Capital Buy $50.00
2015-07-29 Lower Price Target Barclays Overweight $50.00 to $42.00
2015-07-29 Lower Price Target Oppenheimer Outperform $50.00 to $45.00
2015-07-27 Downgrade Cowen and Company Outperform to Market Perform $39.00 to $30.00
2015-07-24 Reiterated Rating RBC Capital Buy
2015-07-21 Reiterated Rating Brean Capital Buy $50.00
2015-07-16 Reiterated Rating Morgan Stanley Overweight $53.00 to $46.00
2015-07-14 Reiterated Rating Citigroup Inc. Buy
2015-07-13 Reiterated Rating Cowen and Company Outperform $42.00 to $39.00
2015-07-10 Reiterated Rating Oppenheimer Outperform $50.00
2015-07-08 Reiterated Rating Sterne Agee CRT Buy $56.00
2015-07-08 Initiated Coverage Northland Securities Outperform $40.00
2015-07-06 Initiated Coverage Guggenheim Buy
2015-07-03 Reiterated Rating Raymond James Buy $45.00
2015-07-02 Upgrade RBC Capital Sector Perform to Outperform $46.00 to $42.00
2015-06-30 Initiated Coverage Guggenheim Buy $45.00
2015-06-23 Initiated Coverage Topeka Capital Markets Buy $44.00
2015-06-19 Reiterated Rating Brean Capital Buy $50.00
2015-05-25 Reiterated Rating Stifel Nicolaus Buy $52.00
2015-05-14 Reiterated Rating Citigroup Inc. Buy $48.00
2015-05-06 Reiterated Rating JMP Securities Outperform $55.00
2015-04-30 Lower Price Target Barclays Overweight $52.00 to $50.00
2015-04-30 Downgrade Monness Crespi & Hardt Buy to Neutral
2015-04-30 Reiterated Rating Canaccord Genuity Buy $50.00
2015-04-30 Boost Price Target Stifel Nicolaus Buy $50.00 to $52.00
2015-04-29 Downgrade Raymond James Buy
2015-04-26 Reiterated Rating RBC Capital Sector Perform $46.00
2015-04-26 Reiterated Rating Brean Capital Buy $50.00
2015-04-17 Initiated Coverage Sterne Agee CRT Buy $56.00
2015-04-14 Boost Price Target Barclays Overweight $48.00 to $52.00
2015-04-09 Initiated Coverage Wunderlich Hold $44.00
2015-04-07 Upgrade William Blair Outperform
2015-04-07 Set Price Target Canaccord Genuity Buy $50.00
2015-03-30 Boost Price Target Monness Crespi & Hardt Buy $44.00 to $48.00
2015-03-05 Boost Price Target RBC Capital Sector Perform $45.00 to $46.00
2015-03-03 Boost Price Target Brean Capital Buy $45.00 to $50.00
2015-02-25 Initiated Coverage Morgan Stanley Overweight $50.00
2015-02-20 Initiated Coverage Barclays Overweight $46.00
2015-02-06 Boost Price Target JMP Securities Market Outperform $52.00 to $54.00
2015-02-06 Set Price Target Citigroup Inc. Buy $44.00 to $48.00
2015-02-06 Boost Price Target Oppenheimer Outperform $42.00 to $50.00
2015-02-06 Upgrade Brean Capital Hold to Buy $45.00
2015-02-05 Boost Price Target Monness Crespi & Hardt $42.00 to $44.00
2015-02-05 Reiterated Rating William Blair Buy
2015-02-05 Upgrade Raymond James Outperform to Strong-Buy
2015-02-02 Initiated Coverage Monness Crespi & Hardt Buy $42.00
2015-01-20 Initiated Coverage RBC Capital Sector Perform $42.00
2015-01-15 Initiated Coverage Stifel Nicolaus Buy $46.00
2015-01-15 Initiated Coverage Cowen and Company Outperform
2015-01-11 Reiterated Rating Canaccord Genuity Buy $45.00
2014-12-30 Upgrade Barrington Research Market Perform to Outperform $36.39 to $43.00
2014-12-30 Upgrade Goldman Sachs Neutral to Buy
2014-12-19 Initiated Coverage Goldman Sachs Neutral to Outperform
2014-12-18 Initiated Coverage Oppenheimer Outperform $42.00
2014-12-16 Upgrade Goldman Sachs Neutral to Buy $42.00 to $43.00
2014-10-24 Reiterated Rating Citigroup Inc. Buy $41.00 to $44.00
2014-10-22 Initiated Coverage JMP Securities Hold
2014-10-21 Initiated Coverage Brean Capital Hold
2014-10-08 Initiated Coverage CRT Capital Buy $44.00
2014-10-08 Initiated Coverage JMP Securities Outperform $48.00
2014-09-19 Initiated Coverage Bank of America Buy $47.00
2014-09-19 Initiated Coverage Bank of America Corp. Buy $47.00
2014-09-17 Initiated Coverage Goldman Sachs Neutral $44.00
2014-09-11 Initiated Coverage Barrington Research Market Perform
2014-07-25 Reiterated Rating Citigroup Inc. Buy $40.00 to $41.00
2014-07-25 Boost Price Target Canaccord Genuity Buy $40.00 to $42.00
2014-05-09 Reiterated Rating Raymond James Outperform $36.00 to $37.00
2014-04-29 Initiated Coverage Raymond James Outperform $36.00
2014-04-29 Initiated Coverage William Blair Outperform
2014-04-29 Initiated Coverage Canaccord Genuity Buy $40.00
2014-04-29 Initiated Coverage Citigroup Inc. Buy $40.00
2014-04-29 Initiated Coverage BMO Capital Markets Outperform $40.00
2014-04-29 Initiated Coverage Morgan Stanley Equal Weight $32.00
2016-07-08 Initiated Coverage Wedbush Outperform $40.00
2016-06-22 Boost Price Target Mizuho Buy $28.00 to $33.00
2016-06-06 Upgrade Monness Crespi & Hardt Neutral to Buy $33.00
2016-06-03 Initiated Coverage Maxim Group Buy $33.00
2016-05-14 Reiterated Rating Morgan Stanley Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
SEA VI Management LLC 9.65%  (7606264) GRUB /
GURLEY J WILLIAM 0.17%  (137648) GRUB / NEWR / OPEN / UBNT / Z / ZEN /
Frink Lloyd D 0.10%  (78528) GRUB / Z / ZG /
Zabusky Jonathan President 0.07%  (53255) GRUB /
Maloney Matthew M. Chief Executive Officer 0.03%  (21137) GRUB / MRGE /
DeWitt Adam See Remarks 0.02%  (17696) GRUB /