Zomato share price may rally 74%, long term growth stock remains intact; check target price

Zomato share price has tanked more than 41% so far this year to Rs 80.35 per share, just shy of its IPO price. The fall in stock price has come on the back of global factors such as rising interest yields, inflation, and also the company’s reluctance to host analyst/investor interactions, analysts said. Although the stock has nosedived, brokerage firm JM Financial remains positive on the long-term growth story of Zomato. JM Financial has reiterated a buy call on Zomato stock with a target price of Rs 140 per share. Similarly, Sachin Shah, Fund Manager, Emkay Investment Managers told FinancialExpress.com that Zomato is a “win-win-win solution”.

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