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).
Denne historien er fra August 03, 2024-utgaven av Business Standard.
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Denne historien er fra August 03, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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