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GRUB

GrubHub

$48.25

1.59 (3.41%)

, YELP

Yelp

$31.22

-1.03 (-3.19%)

16:13
08/03/17
08/03
16:13
08/03/17
16:13

GrubHub, Yelp announce long-term partnership

Grubhub (GRUB) and Yelp (YELP) announced a long-term partnership designed to capitalize on each company's unique assets and propel online takeout and delivery. As part of the agreement, Grubhub will acquire Yelp's Eat24 business and Yelp will integrate online ordering from all Grubhub restaurants onto its extensive local goods and services platform. The long-term partnership agreement between Grubhub and Yelp has an initial term of five years, commencing upon the closing of Grubhub's acquisition of Eat24. Additionally, Grubhub has entered into a definitive agreement to acquire Eat24 for $287.5M in cash, subject to standard closing conditions, including the expiration of U.S. antitrust waiting periods. Grubhub's acquisition of Eat24 is expected to be funded through a combination of cash on hand and debt.

GRUB

GrubHub

$48.25

1.59 (3.41%)

YELP

Yelp

$31.22

-1.03 (-3.19%)

  • 03

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GRUB GrubHub
$48.25

1.59 (3.41%)

07/12/17
07/12/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nvidia (NVDA) upgraded to Buy from Hold at SunTrust with analyst William Stein saying he thinks most of the company's segments can deliver stronger than expected financial results. 2. Westpac Banking (WBK) upgraded to Buy from Neutral at Goldman Sachs. 3. GrubHub (GRUB) upgraded to Outperform from Market Perform at Cowen with analyst Thomas Champion citing anticipation of its new delivery industry model and encouraging data from Cowen's proprietary consumer delivery survey. 4. Durect (DRRX) upgraded to Buy from Hold at Stifel with analyst Adam Walsh saying he predicts the stock will rise over the next 12-18 months. 5. Zimmer Biomet (ZBH) upgraded to Buy from Neutral at Guggenheim with analyst Chris Pasquale saying the resignation of the company's Chief Executive Officer indicates that it is willing to consider a needed shift in strategy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
ROTH
07/17/17
NO CHANGE
Target $55
ROTH
Buy
GrubHub price target raised to $55 from $47 at Roth Capital
Roth Capital analyst Darren Aftahi raised his price target for GrubHub (GRUB) to $55 from $47 saying that despite Amazon's (AMZN) expansion into restaurant delivery, near-term risk may be overstated as only about 3.8% of his survey respondents use it in comparison to the former's 20.3% response rate. The analyst reiterates a Buy rating on the shares.
08/01/17
ROTH
08/01/17
NO CHANGE
Target $55
ROTH
Buy
GrubHub, Groupon partnership a negative for Yelp, says Roth Capital
Roth Capital analyst Darren Aftahi notes that Grubhub (GRUB) announced a partnership with Groupon (GRPN) to provide its food delivery service to the latter's 53M active users, allowing them discounted rates when ordered through Groupon's platform. The analyst believes the partnership should be accretive to Grubhub, allowing access to Groupon's expansive customer base. Additionally, Aftahi sees this deal as a negative for Yelp (YELP) and Eat24. The analyst reiterates a Buy rating and $55 price target on Grubhub's shares.
08/03/17
JMPS
08/03/17
NO CHANGE
JMPS
GrubHub Q2 results likely to beat expectations, says JMP Securities
JMP Securities analyst Ronald Josey expects GrubHub to report better than expected Q2 results, driven by "product improvements and continued strong Active Diner growth." The analyst also expects the company to benefit from a national ad campaign and "better retaurant selection" going forward. He keeps a $47 price target and an Outperform rating on the shares.
YELP Yelp
$31.22

-1.03 (-3.19%)

05/22/17
ROTH
05/22/17
NO CHANGE
ROTH
Buy
Roth says Facebook headline risk may be greater than business impact on GrubHub
After Facebook (FB) rolled out of its "Order Food" button last week, Roth Capital analyst Darren Aftahi noted that the social media giant's initial partners, Slice and delivery.com, have smaller footprints than GrubHub (GRUB) and Yelp's (YELP) eat24, which leads him to believe that the headline risk may be greater than the business impact. However, he cautions that the thinks Facebook's ambition to become a full-service local directory platform increases long-term risk for Yelp. Aftahi keeps a Buy rating on GrubHub and a Sell rating on Yelp.
06/05/17
BOFA
06/05/17
UPGRADE
Target $37
BOFA
Buy
Yelp upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Justin Post upgraded Yelp to Buy and raised its price target to $37 from $35 saying consensus estimates are achievable following the Q1 headline miss. The analyst sees improved quarterly net account adds ahead and improved execution driving shares higher.
06/05/17
06/05/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Yelp (YELP) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post saying consensus estimates are achievable following the first quarter headline miss. The analyst sees improved quarterly net account adds ahead and improved execution driving shares higher. 2. Exxon Mobil (XOM) upgraded to Outperform from Sector Perform at Scotia Howard Weil with the firm saying recent weakness provides a buying opportunity for this defensive play within the oil patch. 3. eBay (EBAY) upgraded to Outperform from Neutral at Credit Suisse with analyst Paul Bieber assuming coverage on the stock while saying there are multiple paths to create value. 4. Gap (GPS) upgraded to Outperform from Perform at Oppenheimer with analyst Anna Andreeva saying the shares are down 17% from last month's highs despite the retailer posting 12% earnings growth in the first quarter. 5. Outfront Media (OUT) upgraded to Buy from Hold at Loop Capital with analyst David Miller saying he believes the "reward outweighs the risk" with the shares down 17% over the past 15 weeks. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NTAP

NetApp

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0.44 (1.05%)

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ACHN

Achillion

$4.88

-0.12 (-2.40%)

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BCOR

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$23.35

0.1 (0.43%)

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LB

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ANDX

Andeavor Logistics

$46.94

0.12 (0.26%)

, WNRL

Western Refining Logistics

$24.25

0.1 (0.41%)

17:26
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17:26
Upgrade
Andeavor Logistics, Western Refining Logistics rating change  »

Andeavor Logistics…

ANDX

Andeavor Logistics

$46.94

0.12 (0.26%)

WNRL

Western Refining Logistics

$24.25

0.1 (0.41%)

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GD

General Dynamics

$200.61

1.12 (0.56%)

17:22
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General Dynamics awarded $115.3M government contract modification »

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BLVD

Boulevard Acquisition

$10.04

-0.01 (-0.10%)

17:17
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Breaking Hot Stocks news story on Boulevard Acquisition »

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FMBH

First Mid-Illinois Bancshares

$34.85

-0.33 (-0.94%)

17:17
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17:17
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17:17
Syndicate
First Mid-Illinois Bancshares files to sell $20M of common stock 'at-the-market' »

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NCOM

National Commerce

$39.55

0.1 (0.25%)

17:16
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National Commerce, FirstAtlantic Financial sign definitive merger agreement »

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  • 18

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AMGN

Amgen

$171.39

1.35 (0.79%)

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Amgen: NEJM publishes results from Repatha cognitive function trial »

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WLK

Westlake Chemical

$71.03

0.84 (1.20%)

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Westlake Chemical CFO Mark Bender sells 13,794 shares of company stock »

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BBOX

Black Box

$3.75

-0.25 (-6.25%)

17:10
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Black Box director John Heller buys 10,000 shares of company stock »

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BCOR

Blucora

$23.35

0.1 (0.43%)

17:07
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Hot Stocks
Blucora director retires from board effective August 10 »

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BGG

Briggs & Stratton

$24.09

0.29 (1.22%)

17:06
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Earnings
Briggs & Stratton sees FY18 EPS $1.31-$1.48, consensus $1.38 »

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BGG

Briggs & Stratton

$24.09

0.29 (1.22%)

17:05
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Earnings
Briggs & Stratton reports Q4 EPS 46c, consensus 53c »

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CSCO

Cisco

$32.34

0.25 (0.78%)

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Breaking Hot Stocks news story on Cisco »

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MED

Medifast

$51.63

-0.4 (-0.77%)

16:58
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Initiation
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DSKE

Daseke

$12.11

-0.1 (-0.82%)

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QEP

QEP Resources

$7.09

-0.2 (-2.74%)

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CSCO

Cisco

$32.34

0.25 (0.78%)

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LB

L Brands

$39.55

0.5 (1.28%)

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LB

L Brands

$39.55

0.5 (1.28%)

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  • 17

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LGL

LGL Group

$4.31

0.0012 (0.03%)

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NLST

Netlist

$0.84

-0.06 (-6.67%)

16:37
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Syndicate
Netlist files to sell common stock, no amount given »

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PRAH

PRA Health

$75.16

-0.54 (-0.71%)

16:34
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PRA Health initiated  »

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LB

L Brands

$39.55

0.5 (1.28%)

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