Zomato Share Price Target: Zomato has proven its strong position over the past year, providing remarkable returns to its investors. Experts believe that the company’s progress is far from over. The Zomato share price is expected to surge even further, especially after its acquisition of Paytm’s ticketing business. Additionally, the company’s expansion into new business sectors is expected to drive its stock price higher. In this article, learn about experts’ opinions on Zomato’s future, its target share price, and the company’s recent performance.
Highlights:
व्हाट्सप्प चैनल या व्हाटप्प ग्रुप में दिए गए कूपन कोड को डालें -
You need to log in to redeem a coupon.
- Zomato delivered a staggering 182% return over the last year.
- The company acquired Paytm’s entertainment and ticketing business for ₹2048 crore.
- Experts have set a target price of ₹320 for Zomato.
- Zomato’s revenue grew by 40%, reaching ₹12,961 crore in FY24.
- Zomato’s recent business moves are expected to further strengthen its market dominance.
| Key Points | Details |
|---|---|
| Zomato’s Returns | 182% return in the last year |
| Paytm Acquisition | Acquired ticketing business for ₹2048 crore |
| Experts’ Opinion | 84% of analysts recommend buying |
| Target Price | ₹320 target for Zomato |
| Zomato’s Revenue | ₹12,961 crore in FY24 |
| Profit | ₹351 crore in FY24 |
Zomato share price
Why Is Zomato’s Stock Rising?
At the beginning of 2023, no one expected Zomato shares to perform so well. Defying negative market sentiment, Zomato delivered a massive 182% return over the past year. Not only has the company rewarded its investors with impressive profits, but it has also earned their trust. Several factors contributed to this surge, including the acquisition of Paytm’s entertainment and ticketing business, and Zomato’s expansion into new business areas.
Also Read: Great Opportunity to Earn from These 5 PSU Stocks! Buy These Government Company Shares at Low Prices
Acquisition of Paytm’s Ticketing Business
On August 21, 2024, Zomato announced its plan to acquire Paytm’s entertainment and ticketing platform for ₹2048 crore. This acquisition is expected to be completed within a year, and experts believe it will lead to significant growth for Zomato. The company has already been working on its ongoing business platform, ‘Zomaland,’ which generated ₹3225 crore in revenue last year. By acquiring Paytm’s business, Zomaland is expected to strengthen its foothold in the market, especially in the ticketing industry.
Experts’ Take on Zomato
Experts believe there is still more growth potential in Zomato’s stock. Citibank has set a target price of ₹320 for Zomato over the next month. Additionally, 84% of the 25 stock market analysts have recommended buying Zomato shares. Many experts also believe Zomato’s ticketing business could compete directly with major players like BookMyShow in the near future.
Also Read: Suzlon Energy’s Big Move: 440 Crore Deal to Strengthen the Company’s Financial Standing!
Financial Performance
Zomato has delivered a 20% return in the last month and a staggering 182% return over the past year. These strong returns have attracted even more investors. In FY24, the company’s total revenue surged by 40%, reaching ₹12,961 crore. Alongside this revenue growth, the company’s profit jumped significantly to ₹351 crore, reflecting a substantial increase compared to previous years.
Future Outlook
Zomato’s future looks promising. Experts predict that the acquisition of Paytm’s ticketing business will open new markets and growth opportunities for Zomato. Additionally, the company’s strategic moves in various sectors suggest that its stock price will continue to rise. For investors looking to invest in Zomato for the long term, this could be a golden opportunity.
FAQs
What is the expected share price of Zomato?
According to experts, Zomato’s target price is set at ₹320.
What business did Zomato acquire from Paytm?
Zomato acquired Paytm’s entertainment and ticketing business for ₹2048 crore.
What is Zomato’s recent revenue figure?
In FY24, Zomato’s total revenue reached ₹12,961 crore.
How much return has Zomato stock provided in the past year?
Zomato has delivered an impressive 182% return over the last year.
Is it a good time to buy Zomato shares?
Experts believe Zomato has a bright future, making this a potentially good time for investors to consider buying shares.
