Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Deliveroo (LSE:ROO) has decided to suspend its £100 million buyback program following an initial proposal from DoorDash, Inc. for a potential cash offer to acquire the company’s entire issued share capital. This move reflects the uncertainty surrounding the proposal and its potential impact on Deliveroo’s business operations and market standing, marking a significant development as the company evaluates the offer.
Despite this pause in its buyback strategy, Deliveroo’s overall outlook remains positive, with notable improvements in financial performance, including profitability and cash flow. However, the company faces risks due to its relatively high valuation, and technical indicators suggest a cautious yet optimistic view of the stock’s future. Moving forward, Deliveroo’s ability to enhance its value proposition while managing market challenges will be critical to its long-term growth.
About Deliveroo
Deliveroo, founded in 2013 by William Shu and Greg Orlowski, is an award-winning on-demand food delivery service. The company partners with around 176,000 restaurants, grocers, and retailers, and employs over 130,000 riders across its nine markets, including the United Kingdom, France, Italy, and Singapore. Headquartered in London, Deliveroo continues to expand its footprint globally.
-
Year-to-Date Price Change: +3.31%
-
Average Daily Trading Volume: 3,792,459 shares
-
Technical Sentiment Indicator: Sell
-
Current Market Capitalization: £2.12 billion
