Benchmark analyst Daniel Kurnos lowered his price target on Waitr Holdings shares to $8 from $18 after the company missed Q2 revenue expectations, guided annual revenues down by 15% and replaced founder and CEO Chris Meaux with Adam Price, who "went from being hired as Chief Logistic Officer in February to COO in June to CEO." Perhaps the bigger shock, though "maybe it shouldn't be," was the announcement that the company is pursuing strategic alternatives less than 12 months from coming public, stated Kurnos, who factored the discounted price he believes DoorDash paid for Caviar in the calculation of his revised target for Waitr shares. He keeps a Buy rating on Waitr, which is down 20% to $3 per share in pre-market trading.