The latest update is out from Deliveroo plc Class A ( (GB:ROO) ).
Deliveroo has announced the purchase of 408,333 of its own ordinary shares through Goldman Sachs International on various trading platforms. This transaction is part of Deliveroo’s ongoing share purchase programme, with the intention to cancel the acquired shares, thereby reducing the total number of shares in circulation. This move impacts the company’s share capital and voting rights, potentially affecting shareholder calculations under the FCA’s rules.
Spark’s Take on GB:ROO Stock
According to Spark, TipRanks’ AI Analyst, GB:ROO is a Neutral.
Deliveroo’s stock score is bolstered by improving financial performance and positive earnings highlights, such as profitability and cash flow improvements. However, technical indicators and high valuation pose risks. The company’s strategic focus on enhancing its value proposition and navigating market challenges is vital for future growth.
To see Spark’s full report on GB:ROO stock, click here.
More about Deliveroo plc Class A
Deliveroo is an award-winning delivery service founded in 2013 by William Shu and Greg Orlowski. It collaborates with approximately 176,000 restaurants, grocers, and retail partners, and employs over 130,000 riders to offer on-demand delivery services globally. Headquartered in London, Deliveroo operates in nine markets, including Belgium, France, Italy, Ireland, Kuwait, Qatar, Singapore, United Arab Emirates, and the United Kingdom.
YTD Price Performance: -9.73%
Average Trading Volume: 3,373,206
Technical Sentiment Signal: Buy
Current Market Cap: £1.83B
See more insights into ROO stock on TipRanks’ Stock Analysis page.