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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 06:52 EDT
Stifel analyst John Egbert trimmed his FY20 revenue and adjusted EBITDA estimates for Grubhub slightly based on management's outlook and additional commentary. However, he said he is "incrementally optimistic" that Grubhub can exit the year with double-digit year-over-year growth across most of its key metrics given the company's progress and he raised his price target on the stock to $50 from $40. Egbert keeps a Hold rating on Grubhub shares as he waits for further evidence of execution.
News For GRUB From the Last 2 Days
Jun 5, 2020 | 16:10 EDT
Futures were pointing to a higher open for the market ahead of the release of the monthly jobs data as investors appeared to be positioning for a "not as bad as feared" report. What they got... To see the rest of the story go to See Story Here
Jun 5, 2020 | 13:26 EDT
Netherlands-based Just Eat (TKAYY) and Germany-based Delivery Hero (DLVHF) have expressed interest in merging with Grubhub (GRUB), Alex Sherman of CNBC reports, citing people familiar with the matter. The interest comes as antitrust concerns have clouded the chances of an Uber Technologies (UBER) acquisition of Grubhub, sources told CNBC. Just Eat is working with Bank of America as an adviser, the people added. One source said Grubhub is weighing multiple offers, some of which are all-stock and some that are both cash and stock, Sherman notes. The company is mulling the right deal structure with potential buyers given market conditions and regulatory risks, two of the people said. Shares of GrubHub are up 8% to $61.93 following the report while Uber is up 2.5% to $37.36. Reference Link