Just Eat’s share price fell 31p to 538.5p yesterday after Amazon officially launched its one-hour restaurant delivery service for Prime customers in selected areas of London.

While Just eat is already facing competition from Deliveroo and UberEats its share price has remained strong – having more than doubled since its float in April 2014.

Neil Campling, an analyst at Northern Trust Capital Markets, said: “The bullish thesis on Just Eat is a perception that Amazon will have little impact as their focus is on the restaurant delivery market in London rather than, say, delivering a kebab in Barnsley on a Tuesday night. Time will tell … but Amazon doesn’t do small scale over time, and nor does Uber.”

This week Takeaway.com, a European rival, announced plans to float on Amsterdam’s Euronext stock exchange. Analysts at Jefferies said this would be good news for Just Eat as it could accelerate consolidation in the market, potentially including the takeover of Delivery Hero’s hungryhouse, which is no2 in the British market.