Zomato Share Price Target 2024, 2025: Domestic brokerage firm ICICI Securities has maintained BUY call on food delivery company Zomato. It said that Blinkit is accelerating its dark store addition trajectory, having achieved adjusted EBITDA breakeven in Q4 FY24.
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The brokerage firm also pointed out that Zomato’s management has guided for doubling store count to 1,000 by FY25, of which nearly 300 stores in pipeline are ready.
“In our view, this is a strategic move to gain market share in QC through geographical expansion while competitors are still focused on profit improvement. Given faster growth ambitions, management has guided for near-zero EBITDA in the next 2-3 quarters. We have cut our Blinkit adj. EBITDA estimate for FY25E by 68%; however, FY26E Blinkit adj. EBITDA estimate is revised up by 11.4%. In FD we think the recent innovations in bulk ordering (link) and veg only fleet (link) should boost revenue growth,” ICICI Securities said.
Zomato Share Price Today
Shares of Zomato on Wednesday traded higher by 1.21 per cent at R 183.80 per share on NSE, at the time of filing this report. So far 2.05 crore shares changed hands.
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The food delivery and quick commerce aggregator’s stock is currently trading at a discount of 11 per cent from its 52-week high of Rs 207.20.
Zomato Share Price Target 2024
ICICI Securities has set the target price for Zomato at Rs 300. This represents a potential upside of up to 63.22 per cent.
Zomato Share Price History
Zomato is a constituent of S&P BSE 100. According to BSE analytics, Zomato shares have climbed 10 per cent in three months and a whopping 57.28 per cent in six months.
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Zomato shares have delivered a multibagger return of 173.63 per cent in the last one year and 195.8 per cent in the past two years, as per analytics.
Zomato commands a market cap of Rs 1,62,019.32 crore as on May 29.
