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Just Eat Takeaway.com (JET) – Market Alert

Just Eat down 4% despite jump in lockdown orders

Just Eat revealed a 57% jump in Q4 orders this morning due to extended UK and EU lockdowns.

The jump in Q4 orders follows on from a 46% increase in Q3 orders and the company guides for broadly in-line 2020 revenue growth of over 50% with adjusted EBITDA margin of about 10%.

Despite the positive headline numbers, the market was disappointed with Just Eat’s margin guidance and the shares are trading down more than 4% on the day.

Technicals

Just Eat’s share price has rallied strongly since news of the new COVID variant in December which plunged the UK into a third lockdown.

Trendlines have been steepening and hence medium-term momentum is increasing. Hence today’s pullback takes prices back down towards the first trendline, potentially setting up a buying opportunity if the shares can stabilize.

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