Ocado Group Re-Appoints Deloitte as External Auditor

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Ocado Group ( (GB:OCDO) ) has issued an announcement.

Ocado Group plc has announced the re-appointment of Deloitte LLP as its external auditor following a competitive audit tender process. This decision aligns with the UK regulations requiring large companies to tender their statutory audits every 10 years. The re-appointment, effective from the financial year ending in 2027, is subject to shareholder approval at the 2027 Annual General Meeting, reflecting Ocado’s commitment to maintaining robust financial oversight.

The most recent analyst rating on (GB:OCDO) stock is a Hold with a £215.00 price target. To see the full list of analyst forecasts on Ocado Group stock, see the GB:OCDO Stock Forecast page.

Spark’s Take on GB:OCDO Stock

According to Spark, TipRanks’ AI Analyst, GB:OCDO is a Neutral.

Ocado Group’s overall stock score is primarily impacted by its financial performance challenges, including declining revenues and high leverage. Technical indicators suggest a bearish trend, and valuation metrics are weak due to ongoing losses. While the earnings call provided some positive strategic insights, the company’s ability to improve profitability remains uncertain.

To see Spark’s full report on GB:OCDO stock, click here.

More about Ocado Group

Ocado Group plc operates in the retail and technology industry, primarily focusing on providing online grocery solutions and automated warehouse systems. The company is known for its innovative approach to online shopping and logistics, catering to both consumers and businesses in the retail sector.

YTD Price Performance: -25.57%

Average Trading Volume: 2,897,926

Technical Sentiment Signal: Sell

Current Market Cap: £1.86B

See more insights into OCDO stock on TipRanks’ Stock Analysis page.

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