Zomato Ltd (NSE: ZOMATO) Share: The share of food delivery service Zomato increased to Rs 263.25 in BSE on Wednesday.
If the well-known brokerage company is to be taken seriously, Zomato’s share could have a significant drop.
The brokerage firm has announced an estimate of Rs 130 for the share of Zomato. The brokerage firm has maintained Zomato’s rating as underperforming on its shares.
Based on the company’s price goal, Zomato’s share could drop by around 50 percent from its closing levels.
Zomato Has Made A Profit Of Rs 176 Crore In The September Quarter
The international brokerage firm has stated in a memo that it’s time to rethink the basic elements and unit economics to grow for Blinkit in addition to Zomato Food Delivery.
Zomato earned a net profit of Rs 176 crore during September-July. In the initial quarter, the company made a profit of Rs 36 crore.
Of the 27 analysts that cover Zomato’s shares, 24 have assigned a “buy” rating. In addition, 3 analysts have issued a “sell” rating to Zomato shares.
Zomato Shares Have Jumped 115 Percent In A Year
Zomato’s share of the food delivery market has increased by more than 115 percent over the past year. Zomato’s share stood at Rs 122.15 on 13 November 2023.
Zomato’s share was the figure of Rs 263.25 on 13 November 2024. However, Zomato’s share has experienced growth of more than 110 percent in the first half of this year.
Zomato’s share has risen over 35 percent in the last six months. The 52-week peak of Zomato’s share is Rs 298.20.
In the same way, the 52-week low of Zomato’s share is Rs 112.50. Zomato’s market capitalization has surpassed the mark of Rs 2,29,965 crore.
Quick Fact
| Company name | Zomato |
|---|---|
| Share Increase | ₹263.25 |
| Brokerage Forecast | Possible target price of ₹130 |
| Analyst Rating | Underperform |
| Estimated Decline | ~50% from closing levels |
| Quarterly Profit | ₹176 crore in September quarter |
| Previous Quarter Profit | ₹36 crore in initial quarter |
| Analyst Recommendations | 24 Buy, 3 Sell |
| Annual Growth | 115% over the past year |
| Market Share Growth | Over 110% in the first half of the year |
| 6-Month Growth | Over 35% |
| Market Capitalization | ₹2,29,965 crore |
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