Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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Revenue and adjusted EBITDA came in at $120.2 million and $37.6 million versus Pacific Crest estimates of $114.4 million and $30.8 million. Consensus called for $114.0 million and $31.2 million.
Active diners were 7.35 million versus Pacific Crest's estimate of 7.27 million and the consensus estimate of 7.32 million. The take rate was mostly in line with the improvement due to the LABite acquisition.
"It was an encouraging quarter, and we'll look for a better opportunity to turn more positive if we see signs that these trends continue," analyst Evan Wilson wrote in a note.
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Although the brokerage appreciated the stabilization in user growth, it said the industry headwinds are likely to remain a key challenge.
"We remain in the camp that user growth headwinds are an industry concern and one quarter doesn't make a trend, but this was a positive development," Wilson highlighted.
The analyst raised his 2016 EPS, revenue and adjusted EBITDA estimates to $0.87, $486.0 million and $140.9 million from $0.79, $472.6 million and $129.0 million, respectively. Consensus estimate calls for EPS of $0.80 on revenue of $473.5 million.
At the time of writing, shares of GrubHub had gained 0.39 percent on the day to trade at $38.30.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.