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Trends in restaurant dining have changed significantly, with the online food delivery industry group capturing investors attention. Who’s on top?
1010data reported recently, public tech company GrubHub is in the lead. Between GRUB and Seamless, there really isn’t anyone close. The duo represent 32.3% of all online food orders. Seamless, which rules New York City, is on its own the largest overall site with 18.8%.
- Seamless and GrubHub combined accounted for more than half of all sales in Q4
- UberEats experienced explosive growth after launching their app at the end of 2015
- On average, Americans use restaurant delivery services at least once a week
- Average order total in this space is $31
- Most consumers place orders between 5-8PM
Grubhub (GRUB) reported is 22% beat in the 3rd Quarter. Earnings were $0.28 per share on revenue of $163.1 million. The consensus earnings estimate was $0.24 per share on revenue of $159.1 million. . Revenue grew 32.1% on a year-over-year basis.
The company said it expects fourth quarter revenue of $197.0 million to $205.0 million. The current consensus revenue estimate is $183.8 million for the quarter ending December 31, 2017.
Considering this forward guidance, we are looking for an opportunity to take a position in GRUB. Buy any pullback to the 9ema daily.
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