Zomato shares fall 6% after Q4 results but brokerages hike target price

Zomato share price: The share price of food delivery platform Zomato fell 6% today (May 14) after the company announced its Q4 results- a consolidated net profit of ₹175 crore.

In the fourth quarter of FY24 against a loss of ₹188 crore in the same period a year ago. Zomato’s net profit grew 27% from ₹138 crore posted in the December quarter and its revenue from operations in Q4FY24 increased 73% to ₹3,562 crore. Analysts maintained their bullish view on Zomato shares as some raised the target price on the stock.

Emkay Global Financial Services on Zomato Q4 results and Zomato share price:

Emkay Global retained FY26E earnings per share (EPS) estimates while lowering FY25E EPS by ~20% owing to possible slower profitability for Blinkit. The brokerage maintained a ‘Buy’ rating with Zomato share price target of ₹230 per share.

Emkay Global retained FY26E earnings per share (EPS) estimates while lowering FY25E EPS by ~20% owing to possible slower profitability for Blinkit. The brokerage maintained a ‘Buy’ rating with Zomato share price target of ₹230 per share.

Maintaining a Buy’ rating on Zomato shares, the brokerage raised the target price to ₹245 per share from ₹180 earlier.

Nuvama said, “We anticipate the aggressive addition of dark stores to hurt margin expansion for Blinkit in the next two quarters, but this effect is expected to be more than offset by higher margins in FY26.”

Elara Capital on Zomato Q4 results and Zomato share price:
Elara Capital maintained ‘Buy’ rating and raised Zomato share price target to ₹280 apiece from ₹250 earlier.

CLSA on Zomato Q4 results and Zomato share price:
The brokerage maintained a ‘buy’ rating on the stock and raised the target price to ₹248 per share.