DoorDashAfter Wolt, an international food delivery platform for which Wolt is being acquired in an $8.1billion all-stock deal, shares rose more than 75% premarket.

This announcement was made Tuesday night by DoorDash. DoorDash was one of the many companies that benefited from staying-at-home lifestyles during the pandemic. reported a wider than expected third-quarter loss per share but beat on revenue estimates.

DoorDash suffered a 30% loss per share with a revenue of $1.28billion. Analysts predicted a loss at 26 cents per share and revenue of $1.18 billion. In addition, it also suffered a net loss totaling $101million. This was more than the $43 million that it lost in the first quarter 2020.

DoorDash’s shares surged by more than 24% following the announcement. This was after an initial drop. Although new customers were not at their peak in 2020 or 2019, they rose to the top for this quarter.

DoorDash International CEO Miki Kuusi (Wolt founder) is expected close the Wolt deal. About 4,000 people work for the Finnish company, which is based in Finland. It operates in 23 different countries. The company had 10 million registered users as of January.

Gordon Haskett analysts said that the purchase will accelerate DoorDash’s international expansion. However, they downgraded the stock to a hold, and the price target was lowered from $243 and $233.

According to Gordon Haskett analyst, “But with very little insight into Wolts’ financials, it is impossible at the moment to support DoorDash’s relative value premium following a nearly 20% increase in share prices on the news,” they wrote.

Wells FargoAnalysts raised the price target from $235 to $260. Analysts stated that DoorDash’s management would be able to focus on the U.S. market by adding Wolt. Wolt is a good partner given its “focus on execution/efficiency, scrappy culture, strong retention and frequency,” the analysts added.

This report was contributed by Jessica Bursztynsky, CNBC