If you’re interested in finding out the future share price targets for Zomato Ltd, you’ve come to the right place. Before we explore the stock price predictions, let’s take some time to learn about Zomato Ltd’s background, its technical basics, and other important factors. This will give us a better understanding of the company and help us make more informed decisions about its stock.
About Zomato Ltd Limited
Zomato Ltd is a food delivery company in India, and its Indi’s most used food ordering app by its users. It got launched in 2010, Initially, they were only listing the restaurant details on its platform, later back in 2015 it started its food delivery services.
Fundamentals of Zomato Ltd
Let’s look at the fundamentals of Zomato Ltd, based on which we can get a clear understanding of the expertise in the food delivery sector
- Current Market Cap: The current market cap of Zomato Ltd as of August 2 2022, is ₹ 43,996.75 Cr.
- P/E Ratio: The current price to earning ratio of Zomato Ltd is 0
- Sales Growth: Sales growth over the period of time for Zomato Ltd is -26.64%
- Profit Growth: Profit growth is around 63.85 % over the period of time
Zomato Ltd Price Target Details
We have done a complete analysis of Zomato Ltd and have come up with its share price targets for upcoming years.
Note: These price targets of “Zomato Ltd” are only for reference purposes. This prediction is only if there are positive market sentiments, and any uncertainties in the company or global market condition is not covered in this analysis.
Zomato Ltd share price target 2023
Looking at the market trend in increase food ordering segment zomato is the major player, even though swiggy also trying to capture the market, and recent Amazon also launched its food ordering business model. However, there is heavy competition, the brand value zomato has been created no other company could produce.
The target share price of Zomato Ltd for the year 2023 will be ₹110
Zomato Ltd share price target 2024
The target share price of Zomato Ltd for the year 2024 will be ₹150
Zomato Ltd share price target 2025
The target share price of Zomato Ltd for the year 2025 will be ₹210
Zomato Ltd share price target 2026
The target price of Zomato Ltd for the year 2027 will be ₹300
Zomato Ltd share price target 2027 to 2030
The target share price of Zomato Ltd for the years 2027, 2028, 2029, and 2030 will be ₹340, ₹420, ₹550, and ₹620 respectively.
| Year | Zomato Ltd 1st Share Price Targets (₹) | Zomato Ltd 2nd Share Price Targets (₹) |
|---|---|---|
| 2023 | 110 | 120 |
| 2024 | 150 | 180 |
| 2025 | 210 | 260 |
| 2026 | 300 | 320 |
| 2027 | 340 | 380 |
| 2028 | 420 | 460 |
| 2029 | 550 | 580 |
| 2030 | 620 | 650 |
Zomato Ltd – Detailed Technical Analysis
As of December 10, 2023, Zomato’s stock price stands at Rs. 120.47, nestled within a 52-week range of Rs. 56.15 and Rs. 88.01. This presents a fascinating opportunity for investors to delve into the technical landscape of the company and understand its potential trajectories.
Bullish Prospects:
- Initial Bullish Target: Rs. 120.17, a stone’s throw away based on the 50-day Moving Average (DMA).
- Intermediate Bullish Target: Rs. 118.77, a level of comfort offered by the 100-day DMA.
- Advanced Bullish Target: Rs. 118.18, a summit marked by the intersection of the 200-day DMA and the 38.2% Fibonacci retracement level.
Potential Bearish Trends:
- Initial Bearish Target: Rs. 117.01, a descent indicated by the 200-day DMA.
- Intermediate Bearish Target: Rs. 116.50, a point of potential concern signaled by the 200-day DMA and the 50% Fibonacci retracement level.
- Advanced Bearish Target: Rs. 115.01, a deeper bearish scenario predicted by the 61.8% Fibonacci retracement level.
Technical Landscape:
- Moving Averages:
- 50-day DMA: Rs. 120.17 (Bullish)
- 100-day DMA: Rs. 118.77 (Bullish)
- 200-day DMA: Rs. 117.01 (Bearish)
- Fibonacci Retracements:
- 38.2%: Rs. 118.18 (Bullish)
- 50%: Rs. 116.50 (Bearish)
- 61.8%: Rs. 115.01 (Bearish)
- Relative Strength Index (RSI): 56.9 (Neutral)
Quarterly Revenue Data
Here’s a table representing Zomato Ltd’s quarterly revenue data:
| Quarter | Revenue (in Rs. Crores) |
|---|---|
| Jun 2020 | 266.00 |
| Sep 2020 | 426.00 |
| Dec 2020 | 609.40 |
| Mar 2021 | 692.40 |
| Jun 2021 | 844.40 |
| Sep 2021 | 1,024.20 |
| Dec 2021 | 1,112.00 |
| Mar 2022 | 1,211.80 |
| Jun 2022 | 1,414.00 |
| Sep 2022 | 1,661.30 |
| Dec 2022 | 1,948.20 |
| Mar 2023 | 2,056.00 |
| Jun 2023 | 2,416.00 |
Conclusion
Zomato’s current price positioning suggests a potential consolidation phase after a period of upward movement. The identified support levels (50-day and 200-day DMA) could act as anchors during potential declines. While initial resistance lies at the 50-day DMA, further upward strides might encounter challenges at the 100-day DMA and the 38.2% Fibonacci retracement level. Notably, the neutral RSI suggests the absence of any significant overbought or oversold conditions, indicating a potential period of market stability.
Based on the data and technical indicators, Zomato Ltd shows potential for both bullish and bearish movements. The company has a market cap of ₹85,872 Cr and has shown a significant increase in its quarterly revenue. However, the company is still not profitable, which is a concern.
Given the numbers and the analysis, Zomato Ltd seems to be on a growth trajectory in terms of revenue. However, the company needs to focus on profitability. Investors should be cautious and keep an eye on quarterly results and other metrics.
