3 Best Food Delivery Stocks To Bet On For 2024

InvestorPlace2023-11-26

Consider these three food delivery stocks instead of opting for out-of-date consumer staples assets. Deliveroo (OTCMKTS:DROOF): Strong branding paired with a nimble business model might lead to ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Best Food Delivery Stocks To Bet On For 2024\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-26 22:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/11/the-3-best-food-delivery-stocks-to-bet-on-for-2024/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Consider these three food delivery stocks instead of opting for out-of-date consumer staples assets.\nDeliveroo (OTCMKTS:DROOF): Strong branding paired with a nimble business model might lead to ...</p>\n\n<a href=\"https://investorplace.com/2023/11/the-3-best-food-delivery-stocks-to-bet-on-for-2024/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4550","symbol_name":"红杉资本持仓","start_time":0,"source_url":"https://investorplace.com/2023/11/the-3-best-food-delivery-stocks-to-bet-on-for-2024/","article_id":"2386766928","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2386766928","pubTimestamp":1701009165,"sourceInfo":{"source_id":"investorplace_stock_picks","name":"InvestorPlace stock picks"},"weMediaInfo":null,"summary":"Food delivery stocks are severely undervalued and ready to present significant gains in 2024 amid a pivot in the macroeconomic environment.","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4550":"红杉资本持仓","BK4588":"碎股","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU1814569148.SGD":"WELLINGTON GLOBAL QUALITY GROWTH \"D\" (SGDHDG) ACC","JTKWY":"Just Eat Takeaway.com N.V.","BK4503":"景林资产持仓","SG9999015978.USD":"利安颠覆性创新基金A","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","BK4551":"寇图资本持仓","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4505":"高瓴资本持仓","BK4230":"旅客陆运","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) ACC","BK4209":"餐馆","SG9999014906.USD":"大华全球优质成长基金Acc USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","SG9999014880.SGD":"大华全球优质成长基金Acc SGD","LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","SG9999017495.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"B\" (SGD) ACC","SG9999014914.USD":"UNITED GLOBAL QUALITY GROWTH (USDHDG) INC","SG9999018865.SGD":"United Global Quality Growth Fd Cl Dist SGD-H","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc","BK4585":"ETF&股票定投概念","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","DROOF":"Deliveroo PLC","BK4536":"外卖概念","BK4022":"陆运","BK4122":"互联网与直销零售","BK4535":"淡马锡持仓","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","UBER":"优步"},"translate_title":"2024年最值得押注的3只送餐股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"JTKWY":1,"UBER":1,"DROOF":1},"content_text":"Consider these three food delivery stocks instead of opting for out-of-date consumer staples assets.\nDeliveroo (OTCMKTS:DROOF): Strong branding paired with a nimble business model might lead to economies of scale.\nUber Technologies (NYSE:UBER): Uber Eats is enhancing its presence within Uber’s sales mix, and exciting developments are in store.\nJust Eat (OTCMKTS:JTKWY): A deep value opportunity embodied by compressed multiples and a systemic turnaround.\n\n\n\n\n\n \n\nSource: Pixel-Shot / Shutterstock.com\n\n\n\nFinding the best food delivery stocks to buy can be a challenge. Food delivery businesses fill an essential part of the consumer staples value chain. \nFunctioning as a bridge between hospitality businesses and consumers, delivery companies have taken the world by storm, lending investors the latitude to invest in their growing business models. \nThe food delivery industry remains in its early stages. Therefore, prudent screening is required as early-stage food delivery stocks often possess inefficient pricing. A hybrid screening approach is suitable for early-stage stocks as it ensures systematic support coalesces with bottom-up fundamental aspects. \nAfter screening and analyzing various food delivery stocks, I discovered three best-in-class assets that may surge in 2024. Let’s discuss each in more depth.\nDeliveroo (DROOF)\nSource: Shutterstock.com\nDeliveroo’s (OTCMKTS:DROOF) primary markets are the U.K. and Ireland, with regional sales spanning 58% of the group’s revenue. However, global expansion is underway, which is yet to be priced by investors. \nThe stock has surged by more than 60% year-over-year yet remains grossly undervalued if its price-to-earnings-growth ratio of 0.59x is used as a reference point.\nIndependent research shows Deliveroo’s United Kingdom market share exceeds 40%. The firm hosts more than 10% of the market in France, Italy, and the UAE.\n I believe its global share will increase even further in the coming years as its brand and $1.14 billion cash position allow scope for expansion. Deliveroo’s scalable business model is low cost because of the commission-based nature of its contractors. \nTherefore, I won’t be surprised if Deliveroo achieves economies of scale within the next few years.\nDeliveroo released its third-quarter trading report in October, revealing additional progress. The firm’s gross transaction value rose by 5% year-over-year because of enhanced selections, effective promotions, and regional expansion. In addition, Deliveroo’s quarterly revenue settled at £487 million (approximately $610 million), a 3% year-on-year increase.\nConsumer sentiment will likely pick up in 2024 amid a global interest rate pivot, consequently adding to Deliveroo’s efficient service execution to send the company’s earnings through the roof. \nDeliveroo’s stock is on a momentum trend, trading above its 10-, 50-, 100-, and 200-day moving averages. Therefore, I think fundamental and stock market-based aspects are aligned for this stock to hit new heights in 2024.\nUber Technologies (UBER)\nSource: Proxima Studio / Shutterstock.com\nAlthough not a pure food delivery company, Uber’s (NYSE:UBER) food delivery segment spans a significant amount of its revenue mix. \nUber’s latest financial results show that its delivery business (which includes Uber Eats) achieved $13.684 billion in sales, equating to 46.99% of the company’s total revenue. \nIt is valid to conclude that Uber Eats has a material impact on UBER stock.\nUber Eats’ advantage relates to cross-sale synergies. The company’s horizontally integrated platform enriches its ancillary offerings by luring customers into cross-sales, bolstering the firm’s topline. \nIn addition, Uber Eats delivers diversified revenue to Uber’s mobility and freight businesses, translating into smoothed yet exponentially growing earnings.\nExciting developments are in store for Uber’s delivery business in 2024. Customers will benefit from a time and cost-saving feature enhancement. \nUber Eats integrates with critical financial programs like Medicaid and Medicare for payment allowances. \nThe company has embarked on expanding its grocery selection as additional selections. I won’t be surprised if sales growth is enhanced because of more comprehensive selections in previously underserved areas.\nUBER stock has nearly doubled in the past year, and its price-to-sales ratio of 3.11x remains at a cyclical discount of roughly 22%. Combining Uber’s broad-based stock performance with Uber Eats’ fundamental stealth spells upside potential.\nJust Eat (JTKWY)\nSource: shutterstock.com/Ascannio\nJust Eat (OTCMKTS:JTKWY) is a deep-value investment characterized by interesting valuation multiples and a business model with interim struggles. \nThe stock has shed over a third of its value in the past year amid a drag on earnings and systemic headwinds. A turnaround opportunity is in store here.\nThe firm released its third-quarter trading results in October, revealing a -4 % to 2% year-over-year growth outlook for full-year deliveries. The market phased out the possibility of lower deliveries as the stock has surged by more than 35% ever since. However, the question arises: Will Just Eat’s surge resume? Let’s do a deeper dive into its prospects to address the question.\nJust Eat’s third-quarter results showed it achieved €6.47 billion (about $7 billion) in revenue, with a near-even distribution in its salient markets, which include North America, Northern Europe, and U.K. & Ireland.\nInterest rates in each of these zones will likely taper in 2024. Thus, lending Just Eat a gap to enhance sales due to lower essential household liabilities. Moreover, a sale of its subsidiary, Grub Hub, is possible, which could add liquidity to its balance sheet, potentially allowing more productive capital allocation.\nJust Eat is on an investor rewards spree. The company recently announced the launch of a new €150 million (about $163 million) share buyback program. \nThe buyback program could attract a new investor base seeking companies that provide their shareholders with sound residual value. The buyback program’s cost outlay implies that Just Eat’s management is confident about the company’s financial prospects, providing investors with ‘insurance’.\nThe stock’s has a price-to-sales ratio of 0.59x and enterprise value-to-sales multiple of 0.69x. Thus affirming my claim that Just Eat stock is a deep-value play.\nOn the date of publication, Steve Booyens did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.\nSteve Booyens co-founded Pearl Gray Equity and Research in 2020 and has been responsible for institutional equity research and PR ever since. Before founding the firm, Steve spent time working in various finance roles in London and South Africa. He holds an MSc in Investment Banking from Queen Mary – University of London. Furthermore, Steve has passed CFA Levels 1 & 2 and is working toward his Ph.D. in Finance. His articles are published on various reputable web pages such as Seeking Alpha, TipRanks, Yahoo Finance, and Benzinga. Steve’s articles on InvestorPlace form an interesting juxtaposition between mainstream opinion and objective theory. Readers can expect coverage on frequently traded stocks, REITs, fixed-income funds, CEFs, and ETFs.Consumer Discretionary, Retail, E-Commerce, Restaurant\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2023/11/the-3-best-food-delivery-stocks-to-bet-on-for-2024/.\n©2023 InvestorPlace Media, LLC","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2386766928"}