If you are looking for a solid directional move, then you may want to skip Deliveroo’s (LON: ROO) share price, which has been nothing short of boring for the last year or so….
The stock has been ranging since May 2022, and even European equities plunging following the SVB fallout didn’t result in ROO breaking the range low.

In fact, it stayed true to its range and closed higher on Monday, up over 3%.
Nevertheless, the online food delivery firm is set to post its FY22 results on Thursday, March 16.
In its Q4 trading update, Deliveroo stated that full-year profitability was ahead of previous guidance, driven by gross profit margin expansion and cost control.
In addition, the company said it experienced a “solid year of growth in 2022,” with gross transaction value up 5% for all operations and market share during the year, increasing in key markets such as the UK, France, and Italy.

While our tracking of Deliveroo mentions suggests demand has remained stable over the last few months, qualitative analysis indicates consumer sentiment is generally positive.
Meanwhile, analysts at Bernstein and Credit Suisse believe Deliveroo is heading higher, with analysts at the firms upgrading the stock ahead of Thursday’s release…
Last week, Credit Suisse’s Joseph Barnet-Lamb lifted Deliveroo to Outperform from Neutral, raising the firm’s price target on the stock to 141p from 116p.
The analyst said the shares are “inexpensive” with “optionality and buyback potential,” while his firm also sees a “downside risk buffer” from potential takeover interest.
Bernstein’s William Woods upgraded Deliveroo to Outperform from Market Perform with a 170p price target on Monday, telling investors in a note that the food delivery market has rationalized “shifting from a state of war to the spoils of war.”
He also believes that Deliveroo is at an inflection point of EBITDA and free cash flow breakeven and that this will open up the opportunity for buybacks and a potential takeover.
By Sam Boughedda