JM Financial Recommends Buying Zomato with a Target Price of Rs 115

October 4, 2023

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JM Financial has issued a “buy” recommendation for Zomato Ltd. with a target price of Rs 115. The current market price of Zomato Ltd. is Rs 102.25.

Zomato Ltd., a player in the services sector, is categorized as a Small Cap company with a market capitalization of Rs 88125.73 Crore. The key revenue segments for Zomato Ltd. include Service Revenue, Other Operating Revenue, and Royalty Income. For the quarter ending on June 30, 2023, the company reported a consolidated total income of Rs 2597.00 Crore, which is a 64.16% increase compared to the same quarter last year and a 16.64% increase compared to the previous quarter. In the latest quarter, the company reported a net profit after tax of Rs 2.00 Crore.

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As of December 31, 2022, the promoters of Zomato held 0% stake in the company, while foreign institutional investors (FIIs) owned 56.74%, and domestic institutional investors (DIIs) held 7.36%.

Investors interested in Zomato may find JM Financial’s “buy” recommendation and target price of Rs 115 to be useful information as they consider their investment decisions in the company.

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