GrubHub: It’s All About Margins And Competition

GRUB stock has dropped 40% over the past few weeks due to concerns about margins and competition.

The secular growth narrative of GrubHub emerging as a leader in the secular growth online food delivery market remains intact.

But GRUB stock needs margin expansion in order to justify even the post sell-off valuation.

Margin expansion will likely resume next year, and GRUB stock should consequently rally from here.

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