GrubHub (GRUB) Stock Rating Lowered by Zacks Investment Research

Man Group plc boosted its position in shares of GrubHub by 67.2% in the third quarter. Man Group plc now owns 9,020 shares of the information …

GrubHub logoGrubHub (NYSE:GRUB) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.

According to Zacks, “Grubhub’s fourth-quarter 2018 results were negatively impacted by higher marketing expenses due to planned expansion into new delivery markets. As these markets will take some time to generate volumes, higher upfront costs will hurt profitability. The company expects to continue expansion in 2019, but at a slower rate. Moreover, intensifying competition from the likes of UberEats doesn’t bode well. However, Grubhub is well poised on the back of an efficient delivery network and new quality-focused restaurant partners. The company is expected to benefit from an increase in active diner base due to product improvements, better restaurant selection and expansion into new markets. Shares have outperformed the industry in the past year.”

Several other research analysts have also issued reports on the stock. Stifel Nicolaus raised shares of GrubHub from a “hold” rating to a “buy” rating and reduced their target price for the company from $140.00 to $125.00 in a research note on Friday, October 26th. TheStreet lowered shares of GrubHub from a “b” rating to a “c+” rating in a research note on Monday, October 29th. Goldman Sachs Group raised shares of GrubHub from a “buy” rating to a “conviction-buy” rating in a research note on Friday, October 26th. Roth Capital reduced their target price on shares of GrubHub from $130.00 to $110.00 and set a “neutral” rating on the stock in a research note on Friday, October 26th. Finally, Credit Suisse Group raised shares of GrubHub from a “neutral” rating to an “outperform” rating and raised their target price for the company from $125.00 to $130.00 in a research note on Monday, January 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $119.82.

NYSE:GRUB traded down $0.13 during mid-day trading on Wednesday, reaching $82.34. 378,965 shares of the company were exchanged, compared to its average volume of 3,834,967. GrubHub has a 12 month low of $66.62 and a 12 month high of $149.35. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.20. The firm has a market cap of $7.48 billion, a P/E ratio of 66.94, a P/E/G ratio of 4.41 and a beta of 1.27.

GrubHub (NYSE:GRUB) last issued its quarterly earnings data on Thursday, February 7th. The information services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. GrubHub had a net margin of 7.79% and a return on equity of 8.43%. The firm had revenue of $287.72 million for the quarter, compared to analyst estimates of $290.43 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The company’s revenue was up 40.3% on a year-over-year basis. As a group, equities analysts predict that GrubHub will post 0.84 earnings per share for the current fiscal year.

In related news, CTO Maria Belousova sold 2,752 shares of GrubHub stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $74.72, for a total transaction of $205,629.44. Following the transaction, the chief technology officer now owns 857 shares of the company’s stock, valued at approximately $64,035.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 9,801 shares of company stock worth $773,267 in the last three months. 1.59% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in GRUB. Pelham Capital Ltd. raised its holdings in shares of GrubHub by 17.1% in the fourth quarter. Pelham Capital Ltd. now owns 2,277,607 shares of the information services provider’s stock valued at $174,943,000 after purchasing an additional 332,443 shares during the last quarter. Man Group plc boosted its position in shares of GrubHub by 67.2% in the third quarter. Man Group plc now owns 9,020 shares of the information services provider’s stock valued at $1,250,000 after acquiring an additional 3,624 shares during the period. Stevens Capital Management LP boosted its position in shares of GrubHub by 60.7% in the third quarter. Stevens Capital Management LP now owns 18,717 shares of the information services provider’s stock valued at $2,595,000 after acquiring an additional 7,073 shares during the period. Three Peaks Capital Management LLC bought a new stake in shares of GrubHub in the third quarter valued at about $2,529,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of GrubHub in the third quarter valued at about $270,000. 92.63% of the stock is currently owned by institutional investors and hedge funds.

About GrubHub

GrubHub Inc, together with its subsidiaries, provides an online and mobile platform for restaurant pick-up and delivery orders in the United States. The company connects approximately 80,000 local restaurants with diners in approximately 1,600 cities. It offers Grubhub, Seamless, and Eat24 mobile applications and mobile Websites for iPhone, Android, iPad, Apple Watch, and Apple TV devices; and operates Grubhub, Seamless, and Eat24 Websites through grubhub.com, seamless.com, and eat24.com.

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Lightspeed Venture Partners Raises $120M for Special Purpose Vehicle

Lightspeed Venture Partners, an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and …

lightspeedLightspeed Venture Partners, an early stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors, raised $120m for a special purpose vehicle.

According to a filing with the SEC, Lightspeed SPV I-B received commitments from eight LPs.

The document lists Barry Eggers, Jeremy Liew, Ravi Mhatre, Peter Y. Nieh and Christopher Schaepe as people related to the offering.

Over the past two decades, the firm has backed hundreds of entrepreneurs to build more than 300 companies globally, including Snap, The Honest Company, GrubHub, Nest, Nutanix, AppDynamics, and MuleSoft, among many others.

Lightspeed currently manages over $6 billion of committed capital and invests in the U.S. and internationally, with investment professionals and advisors in Silicon Valley, Israel, India and China.

FinSMEs

15/02/2019

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iRobot, Grubhub, Broadcom, Intel and Marvell highlighted as Zacks Bull and Bear of the Day

In addition, Zacks Equity Research provides analysis on Broadcom Inc. AVGO, Intel Corp. INTC and Marvell Technology Group Ltd. MRVL. Here is a …

For Immediate Release

Chicago, IL – February 15, 2018 – Zacks Equity Research iRobot Corporation IRBT as the Bull of the Day, Grubhub Inc. GRUB as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Broadcom Inc. AVGO, Intel Corp. INTC and Marvell Technology Group Ltd. MRVL.

Here is a synopsis of all five stocks:

Bull of the Day:

iRobot Corporationhad record sales in 2018. This Zacks Rank #1 (Strong Buy) is expecting to see double digit sales growth again in 2019.

iRobot is a consumer robot company that builds popular home robots including the Roomba Robot Vacuum and the Braava family of mopping robots. Coming in 2019 will be the Terra, the autonomous lawn mower.

Another Beat in the Fourth Quarter

On Feb 6, iRobot reported its fourth quarter and full year results and beat the Zacks Consensus by 33 cents. Earnings were $0.84 versus the consensus of $0.51.

It hasn’t missed since Zacks data began, which was in 2015. This was the 15th straight earnings beat in a row.

Revenue was a record, up 17.7% to $384.7 million from $326.9 million in the year ago period.

For the year, revenue topped a billion for the first time, at $1.092 billion up from $883.9 million in 2017.

Operating margin also came in at 10% even after absorbing the impacts of the tariffs in the fourth quarter.

Strong Revenue Growth to Continue in 2019

The company expects the good times to continue in 2019 as revenue is expected to jump another 17%-20% to a range of $1.28 to $1.31 billion.

It will be introducing a new category of robots this year called the iRobot Terra, which is its autonomous lawn mower.

And while it does manufacture products in China, in 2019 it will engage in a contract manufacturer outside of China to produce several Roomba robots.

And what about those tariffs?

“While we are navigating uncharted waters with the current tariff uncertainty, we expect our global business to deliver strong financial performance in 2019 that will in turn fund critical investments in future technologies and marketing, to further solidify our position as the unambiguous leader in robotic floor care,” said Colin Angle, CEO of iRobot.

Estimates Rise

In addition to the strong revenue guidance, the company also guided earnings to between $3.00 and $3.25 for 2019.

That was higher than the Zacks Consensus.

As a result, since the report, 3 estimates have been revised higher which has pushed the Zacks Consensus up to $3.03 from $2.93. That’s still on the low end of the guidance range however.

Big Rebound in 2019

Like many stocks, iRobot shares have seen big gains in 2019. The strong earnings report only added to the rally which has pushed the shares up 37% year-to-date.

They aren’t cheap, with a forward P/E of 38, but it’s clearly a growth stock.

Bear of the Day:

Grubhub Inc. has taken its lumps the last 6 months as spending has increased in order to expand its business model. This Zacks Rank #5 (Strong Sell) is expected to see declining earnings in 2019.

Grubhub is the nation’s leading online and mobile food-ordering and delivery marketplace. It has more than 105,000 restaurant partners in over 2,000 U.S. cities and London. It’s brands include the main Grubhub brand but also Seamless, LevelUp, Tapingo, Eat24, AllMenus and MenuPages.

An Earnings Miss in the Fourth Quarter

On Feb 7, Grubhub reported its fourth quarter results and missed on the Zacks Consensus by 9 cents. Earnings were $0.19 versus the consensus of $0.28.

Revenue soared 40% to $287.7 million, thanks to acquisitions of LevelUp and Tapingo during the year, as it grew active diners on its platform by 3.2 million during the quarter.

Active diners jumped to 17.7 million, up 22% from 14.5 million in the fourth quarter of 2017.

Gross food sales were $1.4 billion, up 21% from $1.1 billion in the fourth quarter of 2017.

U.S./China Trade Deal Could Pump Up These Stocks

This week’s progress in trade talks between the United States and China could finally lead to a favorable trade deal that the former had been demanding for a long time. All three major U.S. indexes closed higher on Feb 13 trading, boosted by growing investor optimism.

Investor worries around the Mar 1 deadline eased after President Donald Trump said on Feb 13 that he may consider letting the deadline “slide” if both sides were making adequate progress. According to a Bloomberg report, Trump is considering a 60-day extension of the deadline to give more time to the two-way talks.

In fact, China’s President Xi Jinping is set to meet Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Feb 15 to hold high-level talks in order to reach a deal before early March. The U.S. delegation is already in talks with Chinese Premier Liu He.

Given the optimism around a favorable deal and fast-paced developments on both sides, this makes it the right time to track a few stocks that might get a boost soon.

These Stocks Could Jump on a U.S.-China Trade Deal

While a trade deal would undoubtedly bring a relief rally in equity markets, it also means that some tariff-sensitive stocks could turn around the moment a deal is struck. These stocks have been underperforming the broader market in recent times because of their revenue exposure to Chinese markets. The resultant cheap valuations of these stocks offer a desirable buying opportunity at present.

Broadcom Inc. is one of those few companies that are set to benefit from the transition to 5G by virtue of its nature of business. The semiconductor devices developer focuses on a broad range of chips that enable wireless capacities in smartphones, e.g., Bluetooth and Wi-Fi. In addition, its 54% revenue exposure to China (per an HSBC report) opens doors to handsome gains in a favorable-trade-deal-scenario.

Broadcom’s expected earnings growth rate for the current year is 9.7% compared with the Zacks Electronics – Semiconductors industry’s projected rise of 4.6%. The Zacks Consensus Estimate for current year earnings has advanced 4.2% over the last three months. The stock carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

Intel Corp. projects itself as an end-to-end 5G services and solutions provider. Its successful diversification of its businesses over the years has made it one of the leading players in areas such as Internet of Things and autonomous driving. The networking and communications company has a 24% revenue exposure to the Chinese market (per the HSBC report).

Given the likelihood of China overtaking U.S. in data generation by 2025 by implementing technologies such as the Internet of Things, the probability of Intel making the most of China’s efforts is high. According to a study by data storage firm Seagate and the International Data Corporation, data created and replicated in China will be 3% higher than the global average, a CNBC report cited.

Intel’s expected earnings growth rate for the next year is 5.1% compared with the Zacks Semiconductor – General industry’s projected rise of 0.2%. The stock carries a Zacks Rank #3.

Shares of Marvell Technology Group Ltd. underperformed in the industry in 2018, largely driven by tariffs. The $12.75 billion market-cap company has a 50% exposure to Chinese revenues (per the HSBC report), which is likely to get a boost if a noteworthy trade deal comes through. According to a Zacks report, the company is benefiting from strong growth in storage and networking business.

In addition, Marvell’s 4G LTE products could drive growth. The company’s restructuring activities are aimed at boosting operational efficiency, which could also prove to be a growth driver.

The stock carries a Zacks Rank #3 (Hold). The company has outperformed the broader Semiconductor – Communications industry over the past three-month period (+19.8% vs +17.6%).

Will You Make a Fortune on the Shift to Electric Cars?

Here’s another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It’s not the one you think.

See This Ticker Free >>

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.


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Hitchwood Capital Management LP Holding in Grubhub (GRUB) Raised as Share Price Declined …

38C; 07/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon:; 06/04/2018 – Postmates and …

Deere & Company (NYSE:DE) Logo

Hitchwood Capital Management Lp increased its stake in Grubhub Inc (GRUB) by 23.53% based on its latest 2018Q3 regulatory filing with the SEC. Hitchwood Capital Management Lp bought 80,000 shares as the company’s stock declined 42.69% with the market. The institutional investor held 420,000 shares of the business services company at the end of 2018Q3, valued at $58.22 million, up from 340,000 at the end of the previous reported quarter. Hitchwood Capital Management Lp who had been investing in Grubhub Inc for a number of months, seems to be bullish on the $7.48B market cap company. The stock increased 2.16% or $1.74 during the last trading session, reaching $82.47. About 1.41M shares traded. GrubHub Inc. (NYSE:GRUB) has risen 17.22% since February 15, 2018 and is uptrending. It has outperformed by 17.22% the S&P500. Some Historical GRUB News: 23/04/2018 – GrubHub Touted by Half Sky Capital’s Li Ran at Sohn Conference; 10/05/2018 – GRUBHUB TO OFFER JACK IN BOX DELIVERY IN OVER 20 MARKETS; 23/04/2018 – SOHN CONFERENCE: HALF SKY CAPITAL CHIEF INVESTMENT OFFICER Ll RAN DISCUSSING GRUBHUB; 01/05/2018 – GRUBHUB 1Q ADJ EPS 52C, EST. 38C; 07/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon:; 06/04/2018 – Postmates and DoorDash have discussed a merger to fend off Uber, GrubHub and Amazon Postmates faces a challenge: Profitability seems a long way off, and rival DoorDash has a big investment from SoftBank; 10/04/2018 – Bill Gurley, general partner at venture capital fund Benchmark, has backed companies like OpenTable, Zillow, Grubhub and Uber; 02/04/2018 – Grubhub Expands Delivery Offering to 34 Additional Markets Nationwide; 01/05/2018 – GrubHub 1Q Rev $232.6M; 23/04/2018 – SOHN CONFERENCE: HALF SKY CAPITAL CHIEF INVESTMENT OFFICER Ll RAN SAYS GRUBHUB IS ATTRACTIVE INVESTMENT IDEA

Capstone Investment Advisors Llc increased its stake in Deere & Co (Put) (DE) by 5850% based on its latest 2018Q3 regulatory filing with the SEC. Capstone Investment Advisors Llc bought 11,700 shares as the company’s stock declined 1.06% with the market. The hedge fund held 11,900 shares of the industrial machinery and components company at the end of 2018Q3, valued at $1.79M, up from 200 at the end of the previous reported quarter. Capstone Investment Advisors Llc who had been investing in Deere & Co (Put) for a number of months, seems to be bullish on the $51.96 billion market cap company. The stock decreased 0.17% or $0.28 during the last trading session, reaching $162.42. About 2.03 million shares traded. Deere & Company (NYSE:DE) has declined 2.70% since February 15, 2018 and is downtrending. It has underperformed by 2.70% the S&P500. Some Historical DE News: 04/04/2018 – FACTBOX-U.S. winners and losers from trade tit-for-tat; 18/05/2018 – Deere’s ‘Messy Quarter’ Is Out of the Way Says Blair Analyst (Video); 23/04/2018 – DJ Deere & Company, Inst Holders, 1Q 2018 (DE); 18/05/2018 – DEERE REPORTS SECOND-QUARTER NET INCOME OF $1.208 BILLION; 15/05/2018 – Impala Adds Boeing, Exits Deere, Cuts Harley-Davidson: 13F; 18/05/2018 – DEERE – 2018 ADJ NET INCOME ATTRIBUTABLE TO CO EXCLUDING PROVISIONAL INCOME TAX ADJUSTMENTS ASSOCIATED WITH TAX REFORM IS FORECAST TO BE ABOUT $3.1 BLN; 18/05/2018 – Deere & Co. Sees FY18 Worldwide Sales of Agriculture & Turf Equipment Up About 14%; 30/05/2018 – DEERE & CO DE.N SETS QUARTERLY DIVIDEND OF $0.69/SHR; 28/03/2018 – Cramer’s lightning round: The tariff-plagued Deere is a long-term play; 30/04/2018 – JPMorgan Growth Advantage Adds Deere, Exits Humana

More notable recent GrubHub Inc. (NYSE:GRUB) news were published by: Benzinga.com which released: “What Wall Street Thinks About GrubHub’s Mixed Quarter (NYSE:GRUB) – Benzinga” on February 08, 2019, also Seekingalpha.com with their article: “GrubHub’s Premium Valuation Hard To Justify Considering Increasing Competition And Margin Contractions – Seeking Alpha” published on February 05, 2019, Fool.com published: “Bulls vs. Bears: Who’s Right About Grubhub’s Future? – Motley Fool” on January 31, 2019. More interesting news about GrubHub Inc. (NYSE:GRUB) were released by: Investorplace.com and their article: “5 Top Stock Trades for Friday: CMG, GRUB, IRBT, FEYE, MTCH – Investorplace.com” published on February 07, 2019 as well as Streetinsider.com‘s news article titled: “GrubHub Inc. (GRUB) PT Lowered to $120 at Guggenheim – StreetInsider.com” with publication date: February 08, 2019.

Hitchwood Capital Management Lp, which manages about $657.83 million and $7.08B US Long portfolio, decreased its stake in Microsoft Corp (NASDAQ:MSFT) by 250,000 shares to 600,000 shares, valued at $68.62M in 2018Q3, according to the filing. It also reduced its holding in Illumina Inc (NASDAQ:ILMN) by 144,458 shares in the quarter, leaving it with 300,000 shares, and cut its stake in Visa Inc (NYSE:V).

Among 35 analysts covering Grubhub Inc (NYSE:GRUB), 21 have Buy rating, 3 Sell and 11 Hold. Therefore 60% are positive. Grubhub Inc had 157 analyst reports since July 27, 2015 according to SRatingsIntel. The rating was downgraded by Bank of America on Friday, July 29 to “Neutral”. The stock of GrubHub Inc. (NYSE:GRUB) has “Neutral” rating given on Tuesday, March 6 by Bank of America. Cowen & Co downgraded GrubHub Inc. (NYSE:GRUB) on Monday, July 27 to “Market Perform” rating. The stock of GrubHub Inc. (NYSE:GRUB) earned “Buy” rating by Stifel Nicolaus on Tuesday, August 1. Wells Fargo maintained GrubHub Inc. (NYSE:GRUB) rating on Monday, January 8. Wells Fargo has “Hold” rating and $68.0 target. Roth Capital upgraded the stock to “Buy” rating in Thursday, October 27 report. The firm has “Outperform” rating given on Thursday, April 13 by IBC. The firm earned “Hold” rating on Friday, August 4 by Jefferies. The stock of GrubHub Inc. (NYSE:GRUB) earned “Neutral” rating by Susquehanna on Wednesday, October 28. On Monday, June 6 the stock rating was upgraded by Monness Crespi & Hardt to “Buy”.

Capstone Investment Advisors Llc, which manages about $16.83B and $8.76B US Long portfolio, decreased its stake in Spdr Gold Trust (GLD) by 202,980 shares to 5,520 shares, valued at $622,000 in 2018Q3, according to the filing. It also reduced its holding in Autodesk Inc (NASDAQ:ADSK) by 2,979 shares in the quarter, leaving it with 421 shares, and cut its stake in Spdr Index Shs Fds (Call) (FEZ).

Investors sentiment decreased to 0.93 in Q3 2018. Its down 0.04, from 0.97 in 2018Q2. It dived, as 66 investors sold DE shares while 310 reduced holdings. 97 funds opened positions while 253 raised stakes. 202.38 million shares or 2.34% less from 207.23 million shares in 2018Q2 were reported. Investec Asset Ltd holds 325,362 shares or 0.18% of its portfolio. Ls Invest Advsr Limited reported 0.1% in Deere & Company (NYSE:DE). Moors & Cabot invested in 0.14% or 7,836 shares. Thompson Davis & Communication stated it has 327 shares or 0.11% of all its holdings. Becker Cap Management Inc has 0.01% invested in Deere & Company (NYSE:DE). Shelter Mutual Insurance Commerce reported 54,200 shares. Lsv Asset Management invested in 0.01% or 26,500 shares. Sun Life Finance owns 884 shares or 0.02% of their US portfolio. Aviva Public Limited Com owns 0.19% invested in Deere & Company (NYSE:DE) for 231,323 shares. Sarl accumulated 53,599 shares. Endurance Wealth Management stated it has 1,554 shares. Hilton Capital Mgmt Ltd Liability Co has 100 shares for 0% of their portfolio. Cornercap Investment Counsel owns 34,661 shares. Suvretta Ltd Limited Liability Company has 3.95% invested in Deere & Company (NYSE:DE) for 1.14M shares. State Board Of Administration Of Florida Retirement Systems stated it has 0.16% of its portfolio in Deere & Company (NYSE:DE).

Among 31 analysts covering Deere & Company (NYSE:DE), 15 have Buy rating, 2 Sell and 14 Hold. Therefore 48% are positive. Deere & Company had 142 analyst reports since July 27, 2015 according to SRatingsIntel. Jefferies maintained the shares of DE in report on Wednesday, July 5 with “Hold” rating. The company was maintained on Wednesday, January 24 by Barclays Capital. The stock of Deere & Company (NYSE:DE) has “Buy” rating given on Tuesday, August 23 by Argus Research. The company was downgraded on Tuesday, January 9 by Credit Suisse. Deutsche Bank maintained the stock with “Hold” rating in Wednesday, September 5 report. As per Thursday, January 18, the company rating was maintained by Jefferies. The stock has “Buy” rating by HSBC on Tuesday, November 21. The rating was maintained by Barclays Capital on Monday, August 22 with “Underweight”. RBC Capital Markets maintained the stock with “Hold” rating in Friday, June 23 report. BMO Capital Markets maintained Deere & Company (NYSE:DE) rating on Friday, April 21. BMO Capital Markets has “Buy” rating and $128 target.

Deere & Company (NYSE:DE) Institutional Positions Chart

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Food Delivery Startup Postmates Files for IPO

As we noted in our January story, the eight-year-old Postmates has competition from services like Amazon Restaurants, Uber Eats, Door Dash and …

No time frame, size or price range for the IPO has not been specified.

Subscription News: Food Delivery Startup Postmates Files for IPO

Source: Postmates

Last week, San Francisco-based food delivery startup Postmates Inc. filed confidentially for an initial public offering with the Securities and Exchange Commission, reports the Wall Street Journal. Postmates has not specified a time frame to complete the IPO, nor the size or price range they are targeting. Postmates confirmed the filing in a brief February 7 statement. Postmates said the IPO will begin after the SEC has completed its standard review.

This news comes just three weeks after Postmates announced it raised $100 million in Series F funding. At that time, the company was valued at $1.85 billion. Four months earlier, Postmates announced $300 million in funding, as the company marched toward an IPO.

What makes a food delivery startup worth nearly $2 billion? There are several factors that make Postmates attractive to investors. Looking back to the September funding round, Postmates shared some of their impressive growth statistics:

  • Postmates average annual growth was more than 250 percent over the past four years, with gross margins now close to 50 percent.
  • Postmates makes millions of deliveries each month, generating more than $1 billion in gross merchandise volume per year.
  • Postmates saw record adoption of its Unlimited subscription model in 2018, doubling the number of total subscribers from 2017. This huge influx of subscribers gives Postmates and its investors some solid recurring revenue on which to rely going forward.
  • The Unlimited subscription plans growth has been 300 percent, year-over-year, with one of every two orders coming via the Unlimited subscription program.

Subscription News: Food Delivery Startup Postmates Files for IPO

Source: Postmates

The transformation of how commerce moves in cities demands that we build the most innovative tools for businesses to keep up and distribute their products to the modern consumer efficiently and cost effectively, said Bastian Lehmann, Postmates CEO and co-founder, in a September 18 statement. Postmates is proud to be the first and largest on-demand network that is enabling the growth of retail across the country, and todays investment accelerates our ability to pair technology with the vitality of our neighborhoods.

The companys Unlimited subscription program, which launched in 2016, is contributing to the companys success and its long-term value to investors. Subscribers pay $9.99 a month, or $95.88 per year, after a free seven-day trial to get free delivery on restaurant deliveries more than $15 from more than 350,000 restaurants in major cities including Los Angeles, New York City, Miami, Chicago, Phoenix, Seattle and more. Subscribers also skip added fees for small carts and peak pricing, and they get exclusive membership offers including promotions, discounts and invitations to exclusive events. Postmates claims that a membership pays for itself for subscribers who place one order a month. The average Unlimited subscriber saves $90 a year.

As we noted in our January story, the eight-year-old Postmates has competition from services like Amazon Restaurants, Uber Eats, Door Dash and Grubhub, but Postmates has some serious financial backing. What sets Postmates apart is Postmates partners and ultimately its customer service Do they deliver on time? Is the food still fresh when you get it? Do they keep their promises to their customers?

Insider Take:

The way consumers shop and dine has changed dramatically in the last several years. Postmates recognizes that, and it is meeting customers where they are at home or work. When the busy-ness of life takes over and customers dont have time to shop or cook, Postmates is there to save the day and to make sure customers eat without having to go out. The subscription program and the huge infusions of cash have provided the company with additional stability, making the time right for an IPO.


Dana Neuts is Subscription Insider’s Senior Staff Writer, covering our daily subscription news as well as member features, case studies, and reports.

Read Full Bio


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