Why Zomato Share Price is Rising Today

Zomato’s Success Story: Profitability Milestone Spurs Bullish Predictions

In a remarkable turn of events, Zomato Ltd has set the stock market abuzz with excitement as it achieved profitability for the very first time. This significant achievement has triggered a flurry of activity among various brokerages, with many revising their target prices and projections.

Motilal Oswal Securities, a prominent player in the financial sector, is betting big on Zomato’s future, projecting a target price of Rs 110 per share. This represents an impressive 28 percent surge from the current market price, showcasing the immense potential that the company holds.

JM Financial, known for its astute market insights, is even more bullish, anticipating a substantial 37 percent surge in Zomato’s stock value over the next 12 months. Their projected target price of Rs 115 per share paints a picture of robust growth and investor confidence.

Citi, a global financial leader, has also thrown its weight behind Zomato’s success story by raising its target price to Rs 115 from the previous Rs 84. This upward revision underscores the growing optimism surrounding the stock and its potential for further appreciation.

Morgan Stanley, another heavyweight in the financial realm, shares in this sentiment by increasing its target price to Rs 115 from the earlier Rs 85 per share. This upward adjustment reflects a deep-seated belief in Zomato’s ability to capitalize on its newfound profitability.

Goldman Sachs, a name synonymous with financial acumen, envisions a target price of Rs 100 per share, up from the previous Rs 82. This upward trajectory hints at a positive outlook for Zomato and its journey toward sustained growth.

Jefferies India, a leading financial services firm, is even more optimistic, setting a target price of Rs 130 per share, a substantial increase from the previous Rs 100. This bold projection speaks volumes about the company’s achievements and its potential to captivate investors.

Kotak, a trusted financial institution, foresees Zomato’s stock price reaching Rs 105 in the upcoming year, surpassing its earlier target of Rs 95. This upward revision is a testament to Zomato’s resilience and its ability to exceed expectations.

HSBC, a global banking giant, has demonstrated its confidence by elevating the target price by 20 percent to Rs 102. This strategic move reflects a growing consensus that Zomato’s success story is far from over.

Zomato’s spectacular journey to profitability was punctuated on August 3, when the company reported a net profit of Rs 2 crore in the first quarter of the current financial year. Notably, the company’s revenues soared to Rs 2,416 crore, marking an impressive 70.9 percent increase over the previous year. This surge in demand growth, attributed to subsiding inflation and the unwavering strength of the food delivery platform’s loyalty program, cements Zomato’s status as a force to be reckoned with in the market.

Visualize this remarkable tale of success through our engaging infographic, capturing the rise of Zomato and its promising future on the financial horizon.

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