Deliveroo (OTCMKTS:DROOF) Shares Up 0.2% – Still a Buy?

Deliveroo plc (OTCMKTS:DROOF) shot up 0.2% on Monday . The stock traded as high as $2.37 and last traded at $2.37. 500 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 39,432 shares. The stock had previously closed at $2.37.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DROOF. Deutsche Bank Aktiengesellschaft lowered Deliveroo from a “buy” rating to a “hold” rating in a research report on Tuesday, May 6th. UBS Group cut shares of Deliveroo to a “neutral” rating in a report on Tuesday, May 13th.

Deliveroo Stock Performance

The business’s 50 day moving average price is $1.94 and its two-hundred day moving average price is $1.75.

Deliveroo announced that its Board of Directors has approved a stock buyback program on Tuesday, March 18th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Deliveroo

Deliveroo plc, a holding company, operates an online food delivery platform in the United Kingdom, Ireland, France, Italy, Belgium, Hong Kong, Singapore, the United Arab Emirates, Kuwait, and Qatar. The company connects local consumers, shops, riders and restaurants, and grocery partners. Deliveroo plc was founded in 2013 and is based in London, the United Kingdom.