$WTRH – Waitr Holdings Inc.

$WTRH – Waitr Holdings Inc.

Waitr Holdings Inc. provides online food ordering and delivery services in the United States. Its Waitr Platform and Bite Squad Platform facilitate ordering of food and beverages by diners from restaurant partners for pick-up and delivery through a network of drivers. As of December 31, 2019, the company had approximately 18,000 restaurant partners in 640 cities. The company was founded in 2013 and is headquartered in Lafayette, Louisiana.

Overview: Founded in 2013 and based in Lafayette, Louisiana, Waitr is a leader in on-demand food ordering and delivery. Waitr, along with recently acquired food delivery company Bite Squad, connects local restaurants to hungry diners in underserved U.S. markets. Together they are a convenient way to discover, order, and receive great food from local restaurants and national chains.

This due diligence was published by varun22486

My Personal View on the company. They deliver food which has been booming in the current situation, no one wants to eat at a restaurant and its more about delivery and pickup now. This is exactly what they do and the recent results show exactly the same. Upcoming earning should be no different from beating expectations.

Let’s review there last quarter so we all know why I am super bullish

Second Quarter 2020 Highlights

  • Revenue for the second quarter of 2020 was $60.5 million, compared to $51.3 million in the second quarter of 2019, an increase of 18%.
  • Net income for the second quarter of 2020 was $10.7 million, or $0.10 per diluted share, compared to a loss of $24.9 million, or a loss of $0.32 per diluted share, in the second quarter of 2019, a change of $35.6 million.
  • Adjusted EBITDA1 for the second quarter of 2020 was $16.7 million, compared to a loss of $14.9 million in the second quarter of 2019, a change of $31.6 million.
  • As of July 31, 2020, cash on hand was $87.3 million.
  • On August 3, 2020, the Company prepaid $10.5 million in debt in exchange for a rate decrease of 200 basis points for 1 year along with an extension of the maturity date 1 year to November 15, 2023, on both its credit facility and convertible notes.

Recent News and highlights:

  • Oct 8, 2020 – Waitr Holdings Inc. a leader in on-demand food ordering and delivery, today announced that it has launched tableside service technology for restaurants. Through the scanning of a QR code on a smartphone, the new product allows diners to access the menu from the table, place an order, pay, and tip all in the Waitr app without contact. Details HERE
  • Jul 9, 2020 – Waitr Holdings Inc a leader in on-demand food ordering and delivery, today announced three management appointments to enhance the depth and expertise of the Company’s leadership team. Mark D’Ambrosio has been appointed Chief Sales Officer; David Cronin has been appointed Chief Engagement Officer, and Thomas Pritchard has been appointed General Counsel.
  • Jun 30, 2020: Waitr Holdings Inc a leader in on-demand food ordering and delivery, today announced that it has hired approximately 225 customer service and dispatch team members in Louisiana since January of this year. The Company also announced that is has discontinued previous plans to have these positions, as well as others, based in Mexico. Details HERE
  • May 26, 2020: Partnership with FIVE GUYS : Waitr Holdings Inc a leader in on-demand food ordering and delivery, today announced a new partnership with Five Guys as it expands its delivery selection for diners. Effective immediately, customers using the Waitr app can order their favorite foods from more than 150 Five Guys locations around the nation. Details HERE

WHAT DOES ANALYST THINK?

  • Waitr Holdings Inc. (WTRH) has a great growth outlook for 2020: The consensus among analysts is that Waitr Holdings Inc. (WTRH) is an Overweight stock at the moment, with a recommendation rating of 2.2. None of the analysts rate the stock as a Sell, while none rate it as Overweight. 1 out of 4 have rated it as a Hold, with 3 advising it as a Buy.
  • WHO owns WTRH stock? Insiders own 19.13% of the company shares, while shares held by institutions stand at 28.4% with a share float percentage of 35.12%. Investors are also buoyed by the number of investors in a company, with Waitr Holdings Inc. having a total of 100 institutions that hold shares in the company. The top two institutional holders are Luxor Capital Group, LP with over 10.17 Million shares worth more than $26.76 Million. As of June 29, 2020, Luxor Capital Group, LP held 9.24% of shares outstanding.

PRICE TARGET CNN $6:

  • The 4 analysts offering 12-month price forecasts for Waitr Holdings Inc have a median target of 6.00, with a high estimate of 8.00 and The median estimate represents a +77.51% increase from the last price of 3.38. link HERE
  • Recent upgrades

Upcoming catalyst: Earnings are expected to be 1st week of November. I am posting the DD way too early so you can start building your positions a very nice dip today to get it. My purchase price is 3.36

 

Last Updated on October 11, 2020

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may/may not own the stocks they discuss. The information and content are subject to change without notice.

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