Barclays analyst Deepak Mathivanan boosted his price target for GrubHub to $69 from $62 ahead of the company's Q2 results but reiterates an Underweight rating on the shares. The competitive environment in the food delivery space remains intense and GrubHub's peers continue to gain market share in the space by investing aggressively on customer acquisition and restaurant selection, Mathivanan tells investors in a research note. While the analyst expects the company's profitability per order to improve steadily in the second half of 2019, he believes its ability to sustain order growth at similar levels while optimizing its marketing investment in fiscal 2020 "is unclear at this time."