In this article, we will try to analyze the Zomato share price target for 2024, 2025, 2026, 2027, 2028, 2029, and 2030 based on the history of company’s financials and various reports from research and brokerage firms.
| Company | MD & CEO |
|---|---|
| Zomato Limited | Mr Deepinder Goyal |
Table of Contents
Introduction
Zomato is one of the leading online food service platform that offers food delivery, dining-out services, loyalty programs, and others. Zomato has a total 19,16,416 shareholders as of March 2024.
Recent News
Zomato has recently introduced India’s first ‘large order fleet’ to serve orders for gatherings of up to 50 people. Zomato CEO Deepinder Goyal said that previously, Zomato was processing large orders using multiple delivery agents. These vehicles will come with the advantage of cooling compartments and hot boxes with temperature control.
JM Financial A brokerage firm raised its price target on Zomato to Rs 260 from Rs 200 after analyzing the company’s quick commerce business Blinkit’s exponential growth.
JM Financial said that Zomato is one of our preferred stocks in the listed market as its balance sheet remains strong with net cash of Rs 12000 crore as of December 2023 (as against Rs 11800 crore in September 2023).
Stock Performance
Zomato has delivered Compounded Sales Growth of 40% in the last 3 years.
Zomato has delivered Compounded Profit Growth of 16% in the last 3 years.
Zomato has delivered Stock Price CAGR of 249% in the last year.
Zomato has delivered Return on Equity (RoE) -9% in the last 3 years.
Recent Quarterly Performance
| Dec’23 | |
|---|---|
| Revenue | 3,288 |
| Expense | 138 |
| Operating Profit | -270 |
| Profit before tax | -74 |
| Net Profit | -12 |
Company Overview
Zomato is a food ordering and delivery platform where customers can search for and discover local restaurants, order food, and have it delivered to their address quickly.
Zomato consists of four offerings:
- Zomato Food Delivery – Food Delivery Service
- Blinkit Quick Commerce – daily use of more than 1,000 products delivered within minutes
- Hyperpure – is a B2B business supplying high-quality food ingredients and other products.
- Feeding India – is a not-for profit organization to reduce hunger and malnutrition among underserved communities in India.
Financials
| Market Cap | 2,26,337 |
| P/E Ratio | 305 |
| Industry P/E | 169.79 |
| Return on Equity | 3.48% |
| Debt to Equity | 0.05 |
| Dividend Yield | 0.00% |
Net-profit margin
| Year | Revenue | Profit |
|---|---|---|
| 2024 | 12,961 | 351 |
| 2023 | 7,761 | -971 |
| 2022 | 4,687 | -1222 |
| 2021 | 2,118 | -816 |
| 2020 | 2,743 | -2386 |
| 2019 | 1,398 | -1010 |
Share-holding pattern
| Mar’24 | Dec’23 | Sep’23 | Jun’23 | Mar’23 | |
|---|---|---|---|---|---|
| Foreign Institution | 55.11% | 54.88% | 54.72% | 54.42% | 54.60% |
| Retail | 29.62% | 30.68% | 32.24% | 35.65% | 37.36% |
| Mutual Fund | 11.96% | 12.34% | 10.56% | 8.30% | 6.40% |
| Domestic Institution | 3.31% | 2.11% | 2.48% | 1.63% | 1.63% |
Zomato share price target: 2024
| 2024 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2024 | x | x |
| February 2024 | x | x |
| March 2024 | x | x |
| April 2024 | 171 | 205 |
| May 2024 | 177 | 212 |
| June 2024 | 185 | 220 |
| July 2024 | 192 | 228 |
| August 2024 | 198 | 236 |
| September 2024 | 205 | 244 |
| October 2024 | 216 | 277 |
| November 2024 | 225 | 285 |
| December 2024 | 233 | 305 |
- Minimum share price target of Zomato for 2024 – 120 INR
- Maximum share price target of Zomato for 2024 – 255 INR
- Average share price target of Zomato for 2024 – 185 INR
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Zomato share price target: 2025
| 2025 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2025 | 235 | 261 |
| February 2025 | 242 | 268 |
| March 2025 | 245 | 275 |
| April 2025 | 252 | 280 |
| May 2025 | 258 | 285 |
| June 2025 | 266 | 288 |
| July 2025 | 272 | 282 |
| August 2025 | 278 | 295 |
| September 2025 | 285 | 305 |
| October 2025 | 295 | 312 |
| November 2025 | 302 | 320 |
| December 2025 | 310 | 333 |
- Minimum share price target of Zomato for 2025 – 235 INR
- Maximum share price target of Zomato for 2025 – 333 INR
- Average share price target of Zomato for 2025 – 288 INR
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Zomato share price target: 2026
| 2026 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2026 | 315 | 335 |
| February 2026 | 322 | 345 |
| March 2026 | 336 | 358 |
| April 2026 | 343 | 355 |
| May 2026 | 348 | 366 |
| June 2026 | 355 | 378 |
| July 2026 | 362 | 388 |
| August 2026 | 370 | 395 |
| September 2026 | 386 | 408 |
| October 2026 | 395 | 417 |
| November 2026 | 405 | 425 |
| December 2026 | 422 | 446 |
- Minimum share price target of Zomato for 2026 – 315 INR
- Maximum share price target of Zomato for 2026 – 446 INR
- Average share price target of Zomato for 2026 – 380 INR
Zomato share price target: 2027
| 2027 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2027 | 425 | 452 |
| February 2027 | 433 | 466 |
| March 2027 | 445 | 475 |
| April 2027 | 456 | 482 |
| May 2027 | 465 | 496 |
| June 2027 | 472 | 505 |
| July 2027 | 485 | 512 |
| August 2027 | 493 | 522 |
| September 2027 | 510 | 535 |
| October 2027 | 518 | 544 |
| November 2027 | 527 | 557 |
| December 2027 | 538 | 565 |
- Minimum share price target of Zomato for 2027 – 425 INR
- Maximum share price target of Zomato for 2027 – 565 INR
- Average share price target of Zomato for 2027 – 505 INR
Zomato share price target: 2028
| 2028 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2028 | 535 | 570 |
| February 2028 | 540 | 575 |
| March 2028 | 548 | 585 |
| April 2028 | 557 | 588 |
| May 2028 | 565 | 595 |
| June 2028 | 582 | 602 |
| July 2028 | 575 | 610 |
| August 2028 | 588 | 615 |
| September 2028 | 595 | 622 |
| October 2028 | 610 | 628 |
| November 2028 | 618 | 635 |
| December 2028 | 625 | 644 |
- Minimum share price target of Zomato for 2028 – 535 INR
- Maximum share price target of Zomato for 2028 – 644 INR
- Average share price target of Zomato for 2028 – 590 INR
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Zomato share price target: 2029
| 2029 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2029 | 628 | 652 |
| February 2029 | 635 | 665 |
| March 2029 | 644 | 672 |
| April 2029 | 658 | 685 |
| May 2029 | 664 | 688 |
| June 2029 | 675 | 694 |
| July 2029 | 683 | 705 |
| August 2029 | 695 | 712 |
| September 2029 | 710 | 724 |
| October 2029 | 722 | 735 |
| November 2029 | 735 | 750 |
| December 2029 | 742 | 768 |
- Minimum share price target of Zomato for 2029 – 628 INR
- Maximum share price target of Zomato for 2029 – 768 INR
- Average share price target of Zomato for 2029 – 700 INR
Zomato share price target: 2030
| 2030 | 1st Price Target | 2nd Price Target |
|---|---|---|
| January 2030 | 745 | 775 |
| February 2030 | 754 | 788 |
| March 2030 | 766 | 795 |
| April 2030 | 774 | 805 |
| May 2030 | 785 | 810 |
| June 2030 | 796 | 818 |
| July 2030 | 810 | 825 |
| August 2030 | 815 | 838 |
| September 2030 | 824 | 844 |
| October 2030 | 833 | 856 |
| November 2030 | 845 | 868 |
| December 2030 | 858 | 875 |
- Minimum share price target of Zomato for 2030 – 745 INR
- Maximum share price target of Zomato for 2030 – 875 INR
- Average share price target of Zomato for 2030 – 810 INR
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Conclusion
Zomato has given more than 250% returns to its investors in the last year. The public participation has been reduced in the share holding pattern of the company because FII and DII are betting on the stock.
By acquiring Blinkit, Zomato has reported the first profit as of June 2023. Now Zomato is growing quarter-on-quarter.
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FAQ-
Is Zomato a good buy?
Zomato is almost a debt free company while some mutual funds and Foreign Institutions investing in Zomato so it can be say that Zomato is a good buy.
What will be Zomato’s share price in 2025?
Minimum share price target of Zomato for 2025 – 235 INR
Maximum share price target of Zomato for 2025 – 333 INR
Average share price target of Zomato for 2025 – 288 INR
Is Zomato Profitable?
Yes! Zomato has reported 8,552 crore revenue with a profit of Rs 176 crore.