Should you buy/sell Zomato shares?

Sandeep Singh

Aug 20,2024

Should you buy/sell Zomato shares?

Do you have Zomato shares in your portfolio? Here's what UBS analysts make of the Zomato stock now.

UBS maintains 'buy' rating 

The brokerage has raised its target price for Zomato to Rs 320  from Rs 260. 

How UBS views Zomato 

Zomato surprised UBS analysts positively in Q1, with strong GMV growth of 130% but also its solid growth of 27% in food deliver, both better than their estimates. 

Zomato management optimistic

The food delivery company's management commentary appears to be positive, according to the brokerage.

Valuation attractive

Zomato shares trade at an EV-to-EBITDA multiple of 35 times the FY27 estimates, as against a peer average of 30 times (in the Indian consumer and retail space), according to UBS. 

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