Gordon Haskett analyst Robert Mollins started GrubHub with a Buy rating and $75 price target, telling investors that he sees the "short-term pain" from its investments in marketing and delivery market expansion leading to long-term gains. He believes that the stock's multiple will recover as investors recognize that Grubhub's recent market share losses have largely been "low or no margin customers" who have been taking advantage of competitors' free delivery offers. He also notes that GrubHub has a 95% repeat customer base, which means most of its future marketing can be geared towards new customer acquisition and accelerating awareness in new delivery markets.