Zomato Share Price Soars as HSBC Increases Target Price
📈 Good news for investors in the online food delivery platform company Zomato! Foreign brokerage firm HSBC’s experts have raised the target price for Zomato’s shares. According to analysts at the brokerage firm, there are strong signs of growth in Zomato’s stock. During Wednesday’s trading session, the company’s shares were trading at ₹149 with a 4.90% decrease. Zomato stock was trading at ₹152.55, up 2.62%, on Thursday, March 14, 2024. HSBC’s specialists believe that Zomato will benefit from growth in the online market in the coming years.
HSBC has advised investing in Zomato shares with a ‘Buy’ rating. The brokerage firm had announced a target price of ₹200 for Zomato shares. HSBC’s brokerage firm is quite optimistic about Blinkit company’s business. Experts believe that Zomato’s business will remain profitable in the last quarter of the current financial year. On Friday, March 15, 2024, the shares were trading at ₹156, up 2.45%.
Zomato’s order growth rate has increased from 21.4% to 25.4%. HSBC expects that Blinkit company’s advertising revenue will strengthen over the next five years. Zomato’s shares have doubled for investors in the past year. In the last three months, Zomato shares have provided a return of 27% to investors. Over the past six months, Zomato’s share price has risen by 49%. In the last year, Zomato’s shares have provided investors with a return of 174%.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
