Zomato Share Price can fall till Rs 243, see how much is the possibility of going down.

Zomato shares have been making headlines lately, especially on September 13, 2024, as they continue to show significant movement in the stock market. The current trading price of Zomato Ltd is ₹277.75, reflecting a slight decline from previous highs, but the overall sentiment remains optimistic among analysts and investors.

Current Zomato Share Price and Market Performance

As of today, Zomato’s share price is ₹277.75. The stock has experienced fluctuations, with a recent high of ₹281.40 and a low of ₹96.50 over the past year. This year alone, Zomato’s stock has soared by approximately 120%, showcasing its resilience and growth potential in the competitive food delivery market.

Recent Price Movements

• Previous Close: ₹271.70
• Today’s Open: ₹268.50
• Day’s Low: ₹256
• Day’s High: ₹281.40
• Market Cap: ₹232,520.8 Cr

Despite a recent drop of about 1.96% from the previous close, analysts suggest that Zomato’s stock is still positioned for potential growth. The stock’s performance has been bolstered by strong quarterly earnings and a robust operational strategy aimed at expanding its market presence.

Zomato Share Price Analyst Insights and Future Expectations

Analysts are optimistic about Zomato’s future. Many believe that the stock could reach a target price of around ₹300 in the near term. This expectation is supported by the company’s strong fundamentals and strategic initiatives aimed at enhancing customer engagement and operational efficiency. Recent upgrades from major brokerages like JPMorgan and CLSA have further fueled this optimism, with price targets set as high as ₹340 and ₹353, respectively.

Key Factors Influencing Share Price

1. Strong Revenue Growth: Zomato has reported impressive revenue growth, with a significant increase in operating income over the past quarters. The company has consistently outperformed its competitors in the online services sector, which has contributed to its rising stock prices.
2. Market Expansion: Zomato’s ongoing efforts to penetrate deeper into metropolitan areas and diversify its service offerings have positioned it well for future growth. The company’s focus on quick commerce and convenience is expected to drive further customer acquisition and retention.
3. Technical Indicators: The stock is currently trading above its key moving averages, indicating a bullish trend. Analysts note that Zomato’s Relative Strength Index (RSI) is at 63.8, suggesting it is approaching overbought territory but still has room for growth before hitting critical resistance levels.

Zomato Share Price Financial Health

Zomato’s financial metrics reflect a healthy balance sheet. The company is debt-free, which enhances its ability to invest in growth initiatives. The Price-to-Earnings (P/E) ratio stands at approximately 356.09, which, while high, is not uncommon in the tech-driven food service sector. This indicates that investors are willing to pay a premium for anticipated future growth.

Key Financial Metrics

• Market Capitalization: ₹232,520.8 Cr
• P/E Ratio: 356.09
• EPS (Earnings Per Share): ₹0.68
• 52-Week High/Low: ₹280.90 / ₹96.50

Zomato Share Price Investor Sentiment and Recommendations

Investor sentiment remains positive, with a majority of analysts rating Zomato as a “Buy.” The stock has shown resilience during market fluctuations, and many retail investors have increased their holdings. Institutional investors have also raised their stakes, reflecting confidence in Zomato’s long-term growth potential.

Analyst Recommendations

• Buy: 12
• Hold: 1
• Sell: 2

Analysts recommend keeping a close watch on the stock, particularly as it approaches key resistance levels. A stop-loss strategy is advised for investors looking to mitigate risks amid potential market volatility.

Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.