Zomato's "stellar growth", marked by June quarter (Q1) results, has prompted analysts to raise their target prices for the food delivery platform. They see up to 33.3 per cent upside in the stock, from current level, in one year.
Zomato's profit is growing and has significant room for expansion, they say.
"Zomato has shown stellar growth in the last few years driven by low penetration. Going ahead, we expect Zomato to deliver strong growth over the next few years as well, driven by order frequency and increase in customer base. Zomato's path to profitability could be quicker than anticipated with improving contribution margins as the management is not dialling down on growth ambition," said Nikhil Choudhary and Parth Ghiya of Nuvama Institutional Equities.
They assigned a 'buy' rating to the stock with a revised target price of ₹285 (from ₹245).
هذه القصة مأخوذة من طبعة August 03, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 03, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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