Zomato comes on Brokerages' radar after Q3 Results.

Brokerage Houses like Morgan Stanley, CLSA, Jefferies, and Goldman Sachs are bullish on Zomato and recommended BUY ratings with up to 84% upside targets after revenue jumped 75% YoY in Q3.

Zomato reported Q3 Results on February 09, 2023. The company declared loss widens to Rs 347 crore, revenue jumped 75% YoY to Rs.1,948 crores.

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Zomato reported Adjusted EBITDA loss reduced to Rs 265 crores as compared to Rs 272 crores in Q3FY22 a year ago.

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Goldman Sachs has maintained ‘BUY’ rating with an 84% upside target of Rs 100 on Zomato.

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Jefferies has maintained ‘BUY’ rating with an 84% upside target of Rs 100 on Zomato.

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Morgan Stanley has maintained ‘Overweight’ rating with a 50% upside target of Rs 82 on Zomato.

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CLSA has maintained ‘BUY’ rating with a 28% upside target of Rs 70 on Zomato.

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However, Nomura has kept a ‘Reduce’ rating with an 8% downside target of Rs 50 on Zomato.

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Disclaimer: The views and investment suggestions expressed on Admotg Finance are not those of the website or its management. These reports are taken from the research reports of brokerage houses. Admotg Finance advises users to check with certified experts before taking any investment decision.

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