Zomato Stock price Today: Zomato’s stock saw a 5% surge today after opening at ₹265.05, rebounding from a 5% drop on the previous day. The stock reached an intraday high of ₹280.80 before closing at ₹279.80. Experts are bullish on Zomato’s performance, with multiple brokerage houses setting target prices above ₹300.
Expert Opinions and Target of Zomato Share Price :
HSBC raised its target price for Zomato from ₹260 to ₹330. According to HSBC, Swiggy is feeling pressure in its quick delivery segment, particularly in comparison to Zomato’s Blinkit service. Swiggy has an opportunity to expand and improve margins, but Zomato’s strong positioning is reflected in its recent performance.
Additionally, Motilal Oswal has also recommended buying Zomato shares, setting a target price of ₹320. They noted that Zomato’s competitor, Swiggy, is preparing for its IPO, which could have an impact on the competitive landscape.
Stock Price Summary (as of 8 Oct 2024, 3:30 PM IST)
- Price: ₹279.80
- Change: +₹13.70 (5.15%)
- Open: ₹266.00
- High: ₹280.90
- Low: ₹262.60
- Market Cap: ₹2.43 Lakh Crores
- P/E Ratio: 412.59
- 52-Week High: ₹298.25
- 52-Week Low: ₹101.00
Stock Movement in the Last Year:
Over the past year, Zomato’s stock has seen a remarkable 164% increase, significantly outperforming the Nifty50 index, which has gained 28% during the same period. Zomato’s 52-week high stands at ₹298.25, and its 52-week low is ₹101.00.
Summary of Key Insights:
| Key Metric | Details |
|---|---|
| Stock Price on 8 Oct 2024 | ₹279.80 (+5.15%) |
| Market Cap | ₹2.43 lakh crores |
| 52-Week High/Low | ₹298.25 / ₹101.00 |
| HSBC Target Price | ₹330 |
| Motilal Oswal Target Price | ₹320 |
| Stock Growth (1 year) | 164% |
| Nifty50 Growth (1 year) | 28% |
| Competitive Landscape | Blinkit (Zomato) vs. Swiggy; Swiggy preparing for IPO |
Expert Conclusion:
Both HSBC and Motilal Oswal remain bullish on Zomato’s stock, citing growth potential and competitive advantages in its quick delivery business. The stock has delivered impressive returns over the past year, and with a target price range between ₹320 and ₹330, it may still have room for growth.
Investors should, however, proceed with caution and consider potential market risks before making any decisions.
(This is not financial advice. Stock markets are subject to risk. Always make informed investment decisions.)
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