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July 25, 2014
08:29 EDTGRUBGrubHub reported very strong Q2 results, says Canaccord
Canaccord said GrubHub reported very strong Q2 results with every metric ahead of the firm's estimates, citing an increased take rate, increased Diner growth, and improved pricing of its Seamless platform. Canaccord raised its price target on GrubHub to $42 from $40 and keeps its Buy rating on the stock.
News For GRUB From The Last 14 Days
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October 8, 2015
10:15 EDTGRUBGroupon retreats after analyst starts coverage with sell rating
The shares of Groupon (GRPN) after falling after research firm Cowen initiated coverage of the stock with an Underperform rating, the firm's equivalent to a sell, warning that the company's operating margins are "low and trending down." WHAT'S NEW: Groupon's margins are "steadily deteriorating" as the company has lowered the amount it charges retailers who participate in its Services deals, Cowen analyst Kevin Kopelman reported. Moreover, Groupon has begun subsidizing the discounts that Services merchants offer, the analyst said. Meanwhile, the coupon company's Shopping business carries much lower margins than its Services unit and its efforts to raise Shopping's margins have yielded "choppy" progress, according to Kopelman. The year-over-year growth of Groupon's active North America customer base dropped to 10% in Q2, from 18% in the second quarter of 2014, indicating that its core market has peaked, the analyst stated. Noting that Groupon has identified food delivery as its next growth catalyst, Kopelman warned that the space is "hyper-competitive." Yelp (YELP), Amazon (AMZN) and Uber have all announced plans to enter the sector, noted the analyst, who believes that it will be difficult for Groupon to generate return on investment in the space. Kopelman set a $2.75 price target on Groupon. WHAT'S NOTABLE: Grubhub (GRUB) is a key player in the Internet food delivery space. PRICE ACTION: In early trading, Groupon fell 3.7% to $3.68, while GrubHub lost 1% to $28.18.
October 6, 2015
14:39 EDTGRUBPelham Capital reports 5.2% stake in GrubHub, will continue talks
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September 29, 2015
16:09 EDTGRUBPelham reports 5.2% passive stake in GrubHub
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