Top Food Delivery Stocks for 2024

March 31, 2024

A quick but comprehensive look into the best food delivery stocks to invest in this year!

Best Food Delivery Stocks

Food Delivery: Staying Ahead of Changing Appetites

The food delivery revolution has reshaped how we eat. Busy schedules and a desire for convenience make ordering to our doorstep increasingly sought after. Smart investors know this sector offers huge potential, but which companies are best positioned to deliver long-term gains?

Top Food Delivery Stocks for 2024

Let's take a closer look at 10 key players and why they deserve a place on your watchlist:

DoorDash (DASH)

Dynamic Stock Chart for TICKER DASH

  • Why It's Appealing: DoorDash boasts the largest market share in the US, demonstrating established demand and customer trust. Their extensive partnerships with a wide range of restaurants provide consumers with diverse options.
  • Key Points:
    • Strong national brand recognition.
    • Focus on expanding into grocery and convenience store delivery.
    • Potential vulnerability to regulatory changes affecting gig-worker models.

Uber Eats (UBER)

Dynamic Stock Chart for TICKER UBER

  • Why It's Appealing: Uber Eats benefits from Uber's existing global ride-hailing network, providing them with an infrastructure advantage in many markets. Offering both food delivery and transportation services attracts a wider user base.
  • Key Points:
    • International presence offers diversification across various markets.
    • Profits from the ride-hailing side of the business could offset food delivery losses if needed.
    • Intense competition in both ride-hailing and food delivery sectors.

Grubhub (GRUB)

Dynamic Stock Chart for TICKER GRUB

  • Why It's Appealing: As a long-established player, Grubhub enjoys brand loyalty, particularly in major US cities. Their focus on customer loyalty programs aims to retain their existing user base.
  • Key Points:
    • Faces strong competition from newer, more aggressive players.
    • A potential buyout or partnership could significantly affect its trajectory.
    • Experience in the North American market is an asset.

Delivery Hero (DHER.DE)

Dynamic Stock Chart for TICKER DHER.DE

  • Why It's Appealing: Delivery Hero is a dominant force in Europe, the Middle East, and parts of Asia. Their aggressive expansion strategy focuses on capturing market share quickly.
  • Key Points:
    • Rapid growth can come with higher costs and volatility.
    • International focus offers diversification but also involves adapting to different markets and regulations.
    • Expansion into new regions carries both risks and high potential rewards.

Just Eat (TKWY)

Dynamic Stock Chart for TICKER TKWY

  • Why It's Appealing: Formed from a merger, Just Eat enjoys substantial reach within Europe. Their hybrid model, operating both its own delivery fleet and a marketplace for restaurants, offers flexibility.
  • Key Points:
    • Still integrating recent mergers, efficiency gains are ongoing.
    • Faces strong competition from other major European players.
    • Market maturity in Europe means growth might be slower than in emerging markets.

Domino's Pizza (DPZ)

Dynamic Stock Chart for TICKER DPZ

  • Why It's Appealing: Domino's boasts a robust in-house delivery network, a long-standing advantage. Their emphasis on technology and seamless ordering caters to the digitally-savvy customer.
  • Key Points:
    • Brand recognition and global presence.
    • Technology investment can improve efficiency and customer experience.
    • Faces pressure from third-party delivery platforms partnering with smaller pizzerias.

Meituan (MPNGY)

Dynamic Stock Chart for TICKER MPNGY

  • Why It's Appealing: Meituan reigns as China's food delivery giant. Crucially, they offer a broader range of services beyond food within their "super app," attracting a wider user base with diverse needs
  • Key Points:
    • Large, established market share within China.
    • Diversified service offerings can provide a buffer against fluctuations in just the food delivery sector.
    • Regulatory changes within China could significantly impact their operations.

Deliveroo (ROO.L)

Dynamic Stock Chart for TICKER ROO.L

  • Why It's Appealing: Deliveroo strategically focuses on major European cities and select Asian markets. Their partnerships with grocery stores tap into a growing delivery segment.
  • Key Points:
    • Focus on quality restaurants and curated selection could attract specific clientele
    • Expansion into groceries broadens delivery appeal
    • Competition within European markets is fierce.

Waitr Holdings (WTRH)

Dynamic Stock Chart for TICKER WTRH

  • Why It's Appealing: Waitr deliberately targets smaller US cities and towns, potentially finding a niche in less saturated markets. This strategy could offer lower competition initially.
  • Key Points:
    • Potential for growth if they establish themselves in currently underserved areas.
    • Smaller markets also mean smaller customer bases, which could limit expansion.
    • Cost-effectiveness compared to larger rivals is essential.

Olo (OLO)

Dynamic Stock Chart for TICKER OLO

  • Why It's Appealing: Olo's software powers online ordering for many restaurant chains. This provides indirect exposure to food delivery growth, even without their own drivers or physical presence in the market.
  • Key Points:
    • Benefits from increased online ordering without the expenses of delivery infrastructure.
    • Dependent on the success of its restaurant chain clients.
    • Focus on technology and software could lead to innovative solutions.


The food delivery landscape is incredibly dynamic. Regulations, competition, and evolving consumer preferences will shape the trajectory of these companies. Investors keen on this sector should balance potential rewards with the associated risks. Careful research into each company's specific focus, market penetration, and financial performance is crucial before making any investment decisions.

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About the author 

Jenna Lofton, an expert in stock trading, investing, and financial planning, combines over a decade of experience with rigorous academic training. Holding dual MBAs in Finance and Business Administration from the University of Maryland, Jenna's expertise is grounded in a deep understanding of the financial markets. Her career, which started on Wall Street, has evolved into empowering others through her insights and analyses in the dynamic world of finance.

Based in New York City, Jenna's approach is informed by her hands-on experience as a former financial advisor and her keen observation of market trends. She is known for translating complex financial concepts into actionable strategies, making her a valuable resource for both seasoned investors and newcomers to the stock market. Her commitment to financial literacy and her ability to demystify investment principles have made her a respected and authoritative voice in the investment community.

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