GrubHub Inc GRUB shares are trading lower by $3.14 (5 percent) at $38.17 in Wednesday's session. The catalyst for the decline is Q4 EPS miss of $0.02 along with a slight revenue beat.
The company announced Q1 guidance that surrounded current estimates, but were above the consensus estimates for FY 2017 ($619 million), forecasting revenue in the $620-$660 million range.
After a lower open, it attempted to recover, but came up well shy of the lower end of Tuesday's range ($40.51) only reaching $39.50. At this time, its trading off its low for the session of $37.51. That low coincides with its January 12 close of $37.37.
If the decline continues through that low, the next support level based on the daily charts doesn't come in until its January 12 low of $436.33.
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