Zomato share price crosses Rs 100 mark! Has the tide turned?

Produced by: Tanya Aneja
Designed by: Mohsin Shaikh

Shares of Zomato rose 8% in Monday's trading session to touch a 52-week high of Rs 102.85 on BSE. The market cap of the firm crossed Rs 86,000 mark

Zomato on Dalal Street

Zomato reported a profit after tax (PAT) at Rs 2 crore for the quarter against a net loss of Rs 186 crore in the June quarter of last year. The company reported a loss of Rs 189 crore in the quarter ended March

Zomato Q1 Results

Nuvama: Buy | Target: Rs 110

According to Nuvama, Zomato reported strong Q1FY24 results which were much ahead of expectations. Strong GOV/revenue growth in Q1FY24 along with guidance of more than 40 per cent YoY growth in adjusted revenue for the next two years underscores management’s confidence and provides much-needed visibility, it said

Zomato share target
price: Nuvama

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Motilal Oswal: Buy | Target: Rs 110

Motilal Oswal expects Zomato to turn positive on reported Ebitda by March quarter, and sees it delivering 5% Ebitda margin in FY25. It does not expect competition to intensify further despite the entry of ONDC in the space

Zomato share target
price: Motilal Oswal

Jefferies: Buy | Target: Rs: 130

Jefferies believes that Zomato achieved a key milestone of adjusted Ebitda and consolidated PAT positive. It called it a "journey of dramatic twists and turns” since the IPO

Zomato share target
price: Jefferies

JM Financial: Buy | Target: Rs: 115

JM Financial said that while Zomato shares were up 35% since March quarter results, it expects the momentum to sustain, as the market is largely capturing value attributable to food delivery business, whereas a significant value unlocking is waiting to happen in Blinkit

Zomato share target
price: JM Financial

Nomura: Reduce | Target: Rs 67

Nomura continues to believe that it will be a challenge to achieve double-digit contributory margin, with high growth in the long term (High growth with margin expansion to be a challenge)," Nomura said in a note 

Zomato share target
price: Nomura

Shares of Zomato have recovered over 116% from its 52-week low of Rs 44.35, hit on January 25, 2023

Zomato: Up 116% from
52-week low

Zomato made a bumper debut on bourses with the unicorn hitting the Rs 1-lakh crore market capitalisation mark. The stock opened at Rs 116, 52.63 per cent higher on NSE against the issue price of Rs 76

Zomato's Debut

Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position


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