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Miriam Josiah

CFA-designated Equity Analyst at Morgan Stanley

Miriam Josiah is a CFA-designated Equity Analyst at Morgan Stanley & Co. International plc, specializing in coverage of general sector equities with a particular focus on companies such as Just Eat Takeaway.com. She currently covers 22 stocks and has built a solid track record, maintaining an average success rate of 63% and generating an average annual return of 5.10% on her investment ratings. Ranked among the top third of Wall Street analysts by TipRanks, Josiah began her career at Morgan Stanley before 2022 and has contributed to prominent research publications on workforce and platform economics. As a CFA charterholder, she possesses advanced analytical credentials but is not registered with FINRA as she is employed by a non-U.S. affiliate.

Miriam Josiah's questions to Just Eat Takeaway.com (TKAYF) leadership

Question · FY 2022

In a follow-up, Miriam Josiah of Morgan Stanley asked about the competitive pressure from Wolt in Germany and whether investment in delivery was needed to close a selection gap.

Answer

CEO Jitse Groen dismissed the competitive threat from Wolt in Germany as a 'waste of money,' noting their operational overlap is minimal. He affirmed that Just Eat has the largest logistics network in Germany and will continue to invest in its expansion from a position of strength and profitability, which is expected to further solidify its market leadership.

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Question · Q4 2021

Miriam Josiah from Morgan Stanley & Co. International Plc requested an update on the legal proceedings regarding fee caps and asked about the revenue impact observed in states where caps have already been removed.

Answer

CEO Jitse Groen stated that the company is pursuing legal action and political dialogue to resolve the fee cap issue, which had a nearly €200 million impact on profitability. He noted that in Canada, where most caps were lifted, profitability increased 'quite rapidly,' demonstrating the significant positive financial impact of their removal.

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