Waitr Holdings (WTRH) Initiated with a Buy at B.Riley FBR

In a report released today, Jeff Van Sinderen from B.Riley FBR initiated coverage with a Buy rating on Waitr Holdings (WTRH) and a price target of $8.00. The company’s shares closed last Tuesday at $4.42.

According to TipRanks.com, Sinderen is a 4-star analyst with an average return of 6.8% and a 49.4% success rate. Sinderen covers the Consumer Goods sector, focusing on stocks such as Universal Electronics, Celsius Holdings, and Tilly’s.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Waitr Holdings with a $5.70 average price target.

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Based on Waitr Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $44.24 million and GAAP net loss of $2.1 million. In comparison, last year the company earned revenue of $48.03 million and had a GAAP net loss of $24.75 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WTRH in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Waitr Holdings, Inc. engages in an on-demand food ordering and delivery business. Its platform connects local restaurants to diners in underserved markets. The company’s mobile and desktop ordering platforms allow users to browse for local restaurants, customize menu items, and pay securely from mobile phones or computers. Waitr Holdings was founded on November 19, 2008 and is headquartered in Lafayette, LA.

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