Zomato share price target 2023 and the rise of Zomato share price after Q1 results

In 2023, Zomato's share price target reflects a positive trajectory following robust Q1 results. The company's strategic growth initiatives and strong financial performance have driven investor optimism, propelling its share price to new heights.

Zomato share price target 2023 and the rise of Zomato share price after Q1 results

In this blog, you will be able to learn about the Zomato share price target 2023 and the rise of Zomato share price which will help in trading and earning profit out of it which will be very beneficial for you.

Zomato share price target 2023 and the rise of Zomato share price after Q1 results.      

After posting the first-ever quarterly profit zomato share price rose to 12%, with the current net worth of Rs. 2 crore and revenue of Rs. 2,416 crore.

During March Zomato's operating revenue rose 70% from approximately a year ago to their current net worth.

In early trade yesterday Zomato's share rose to 12%, and after a day Zomato which is a food delivery company posted its first-ever quarterly profit. The share price of zomato opened at Rs. 89 in comparison to a day before yesterday's closing price of Rs. 86.22. Zomato Ltd share price gained further a hit of Rs. 98.39 - which took a jump of 12% - in yesterday's morning trade.                    

Zomato share price on Thursday announced its Q1 earnings for FY24. The food delivery company has reported a net profit of Rs. 2 crores against a loss of Rs. 186 crores (YoY). Zomato share price now or we can say that the revenue of the firm was up at Rs. 2,416 crore versus Rs. 1,414 crore (YoY).    

Zomato share rate has been listed on the bourses around July 2021 at Rs. 115.00 against the issue price of Rs. 76.  

Zomato share price nse and zomato share price bse were finally introduced to the traders in July 2021 after the rolling out of an initial public offering. Zomato share price is now listed at Rs. 115 against an issue price of Rs. 76. Zomato share rate could not sustain the listing gains and zomato share price now has been listed below the loisting price since then, next paragraph might help you out with being able to know Zomato share price target 2023 so for your own benefit you should read it carefully and understand it deeply but don't forget about analysing the zomato share price history too.    

"Zomato Ltd share price expects adjusted revenue to grow at over 40% and now for at least the next couple of years and remain profitable going forward. Now if we consider the Q1 beat and strong outlook, we have increased FY24-26E revenue by 13-22%, with a better margin trajectory. We retain BUY with TP of Rs. 110 (earlier Rs. 9-). "said the latest Emkay report. 

Conclusion

The information provided in this blog is for educational purposes only and should not be considered financial or investment advice. Trading in stocks and securities involves risks, and individuals should carefully evaluate their financial situation and consult with professionals before making any trading decisions, you can take the help of Finskool advisory service which will increase your chances of earning profit.

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