Delivery Hero stock trades below Uber’s €41.50 offer as upgraded outlook lifts 2026 targets
Published on 08/29/2026 at 12:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Delivery Hero (ISIN DE000A2E4K43) stock is again in the spotlight on August 29, 2026, as the tender offer from Uber sets a €41.50 per-share cash reference while the shares continue to trade below that level and the company lifts its financial guidance for 2026.
The current investor discussion is driven by this gap between the market price and the formal bid, together with new figures for gross merchandise value growth, adjusted EBITDA and order volumes reported in the most recent interim period of 2026.
Bid premium versus market price
Per a detailed corporate news overview, Uber’s formal tender offer for Delivery Hero currently stands at €41.50 per share in cash, with an acceptance period that runs until November 5, 2026. The same overview notes that Delivery Hero shares closed at €36.99 at the end of the latest completed trading session referenced there, creating a discount of 12 percent compared with the offer price and signaling that the market still prices in deal risk and regulatory or execution uncertainty. Corporate news on the tender offer
In the same session, the shares slipped 0.8 percent, indicating that investors are not rushing to close the gap to the bid despite the formal offer being live and the timetable toward a potential closing extending into the second half of 2027. This modest move contrasts with the scale of the corporate event, which includes the possibility of Delivery Hero ultimately becoming part of Uber’s global platform.
Separate market data pages that track historical prices show that a recent closing price for Delivery Hero stood at €37.05 on August 27, 2026, with a daily gain of 0.27 percent and trading volume of 477,610 shares, underlining that the stock continues to trade in the mid-€30s even as the tender offer sits in the low-€40s. Delivery Hero historical price data overview
Fresh guidance and interim 2026 figures
Alongside the takeover story, Delivery Hero has raised its guidance for fiscal 2026, using its everyday app strategy to highlight growth and profitability improvements. A same-day news report on the company’s outlook states that in the second quarter of 2026, gross merchandise value, or GMV, increased 11.3 percent to €13.2 billion, revenue climbed 17.7 percent to €4.0 billion and orders rose 11 percent to 981 million. News item on 2026 guidance and Q2 figures
Those Q2 2026 figures represent the most recent reported interim period and underscore that Delivery Hero is still in a growth phase, with double-digit percentage increases in GMV, revenue and order volumes compared with the prior-year quarter. For investors, the combination of GMV up 11.3 percent and revenue up 17.7 percent suggests improving monetization of transactions, as the revenue growth rate exceeds GMV growth by 6.4 percentage points in that quarter.
The same guidance update references adjusted EBITDA for the first half of 2026, with an outside commentary citing a figure of €427 million that exceeded analyst expectations. That adjusted EBITDA number for the half-year matters because it sets an earnings benchmark under the new outlook: in other words, the company is signaling that it can generate several hundred million euros of adjusted EBITDA in 2026 while still investing in its everyday app capabilities. Article referencing the 2026 outlook
These fresh numbers sit inside the allowed recency window relative to August 29, 2026, meaning they count as current fundamentals and can be used to judge whether the equity story justifies the takeover price. Historical figures from earlier fiscal years, by contrast, now serve mainly as context and are less relevant for valuing the stock today.
Analyst view and valuation gap
The valuation debate around Delivery Hero is influenced not only by Uber’s cash bid but also by the sell-side analyst view on the standalone company. An analyst update summarized on a market portal shows a current rating of Outperform for Delivery Hero and references a share price level at €37.00 in connection with that call, implying that the analyst sees upside from that trading level toward the stated price target. Analyst rating overview
The same overview places the distance to the price target at 12.16 percent, effectively echoing the valuation gap that investors perceive relative to Uber’s €41.50 cash offer. While the exact target number is not broken out in the snippet, the implied upside percentage indicates that the analyst expects the stock to move closer to the low-€40s, aligning directionally with the tender offer level and highlighting that, on fundamental metrics, Delivery Hero may be undervalued at current prices.
For shareholders, the key quantified comparison today is between the trading range in the mid-€30s and the €41.50 bid, a spread of €4.51 per share that equates to a double-digit percentage premium. The combination of GMV at €13.2 billion for Q2 2026, revenue at €4.0 billion and adjusted EBITDA at €427 million for the first half supports the argument that the business can sustain growth and margin improvement, which in turn can justify that premium if execution risks are kept under control and regulatory approvals are obtained on schedule.
Everyday app as a strategic product
In strategy communications, Delivery Hero highlights its everyday app concept as a key product idea that underpins both the upgraded guidance and the takeover interest from Uber. The everyday app is designed to be a single interface through which users can access quick commerce, restaurant delivery, groceries and other local services, allowing the company to increase order frequency and deepen customer engagement.
From a product perspective, the everyday app matters because it leverages Delivery Hero’s logistics network and merchant relationships across dozens of markets, turning a pure food-delivery service into a broader local commerce platform. By integrating on-demand grocery deliveries, convenience items and potentially financial or lifestyle services, the app aims to capture a larger share of spending per user and smooth out demand across different times of day and categories.
Investors view this product positioning as part of the rationale behind the fresh 2026 outlook figures: when GMV grows 11.3 percent year-over-year and orders reach 981 million in Q2 2026, it indicates that the everyday app strategy is starting to translate into higher transaction volumes and cross-category usage. At the same time, the adjusted EBITDA of €427 million for the first half of 2026 signals that the company can achieve scale efficiencies and improved unit economics even as it invests in features, personalization and delivery-speed improvements inside the app.
Shares trade below offer as of late August 2026
Looking at the most recent completed trading data available as of August 29, 2026, Delivery Hero shares remain below the €41.50 tender-offer price. A historical price overview reports a close at €37.05 on August 27, 2026, after a modest daily gain of 0.27 percent, keeping the stock within a narrow band in the mid-€30s rather than moving decisively toward the low-€40s. This persistent gap illustrates that the market is factoring in the risk that the deal could take longer than expected to close or could face changes in terms along the way.
For retail investors, the question is whether the combination of recent Q2 2026 numbers, first-half adjusted EBITDA of €427 million and an Outperform rating with more than 12 percent upside creates enough confidence that the equity valuation will converge toward the offer. Until that convergence happens, Delivery Hero remains a case study in how hard numbers - GMV at €13.2 billion, revenue at €4.0 billion, orders at 981 million and adjusted EBITDA at €427 million - intersect with deal dynamics and perception risk in the public market.
Read more
Further details on Delivery Hero’s latest figures, guidance and market context can be found through dedicated investor materials and market-data pages that track the stock’s daily performance and tender-offer developments.
Company and stock facts
Company: Delivery Hero SE
ISIN: DE000A2E4K43
Ticker: DHER
Exchange: Xetra
Sector / Industry: Consumer Discretionary / Internet and direct marketing retail
Index membership: DAX
