Zomato Ltd (ZOMATO)

Brokerages Remain Positive on Zomato After Q4 Results - 15 May, 2024

Despite recent losses due to profit booking, Zomato has gained over 50% in 2024 so far. Brokerages have raised their target prices following impressive Q4 earnings, with Emkay raising its revenue estimates and Morgan Stanley increasing its price target by 31%. Zomato's growth in Blinkit has impressed analysts, while regulatory risks and competition from Swiggy remain concerns.

Zomato Reports Strong Q4 Results and Bullish Outlook from Analysts - 14 May, 2024

Zomato reports fourth straight quarter of earnings coming in the green with Q4FY24 net profit of Rs 175 crore and revenue up 73% YoY to Rs 3,562 crore. Multiple brokerages maintain bullish outlook and raise target prices on the stock. Emkay Global Financial Services issues buy call with target price of Rs 230 per share.

Zomato Reports Net Profit in Q4 FY24 - 13 May, 2024

Zomato reported a consolidated net profit of Rs 175 crore in Q4 FY24. The company registered a loss of Rs 39 crore in the March quarter due to write-down of investment in ZPPL. Blinkit turned adjusted EBITDA positive in March. Zomato is doubling down on its quick-commerce business Blinkit, aiming to add 100 dark stores by June.

Zomato Reports Strong Q4 Results Amid Auditor Resignation - 12 May, 2024

Zomato reports strong Q4 results with significant YoY growth in consolidated revenues. Mothers Day surpasses New Years Eve in terms of order volume. The auditor of Zomato's subsidiaries resigns with immediate effect. Revenue increased by 15% from September quarter to December quarter.

Zomato Receives Target Price Revision and Buy Recommendation - 11 May, 2024

Domestic brokerage firm Emkay Global has revised Zomato's target price to Rs 230 per share, reflecting an anticipated 18% upside potential. Axis Securities recommends buying the stock with a target price of 215-220 and stop loss of 196.

Emkay Global Raises Zomato Share Price Target to Rs 230 - 10 May, 2024

Emkay Global has raised Zomato's share price target to Rs 230 from Rs 170, with a Buy rating. The new target implies an upside of over 17% from Thursday's closing price. Emkay Global expects healthy growth momentum in the near term on the back of steady increase in MTUs and ordering frequency, benefits accruing in take rate from new restaurants addition and reducing dispersion in commission rates and platform fees.

Zomato Launches Weather Monitoring System and Expands Homestyle Food Service - 09 May, 2024

Zomato has launched Weather Union, a weather monitoring system in India with over 650 on-ground weather stations. The company also expanded its Zomato Everyday homestyle food service to multiple cities, offering meals between Rs 89 and 150. Zomato currently has 18.6 million monthly transacting users and revenue rose 66% to Rs 7,761 crore in FY23.

Zomato Launches Crowd-Supported Weather Monitoring Service - 08 May, 2024

Zomato has launched WeatherUnion.com, a crowd-supported weather monitoring service that provides localised, real-time information on key weather parameters. Additionally, Zomato earns its largest chunk of profit from restaurant listings on its app and has developed a proprietary network of 650+ on-ground weather stations. Food aggregator Shiprocket, backed by Zomato, is betting big on WhatsApp commerce.

Ambit Investment Managers Considers Zomato a Preferred Stock Pick - 07 May, 2024

Dhiraj Agarwal, Managing Director of Ambit Investment Managers, believes that Zomato has a long runway for growth and could deliver superior returns over the next 5-7 years. The grocery business Blinkit is also showing signs of strength.

Zomato Launches New Feature for Dining Discounts; Adjusts Revenue Strategy - 06 May, 2024

Zomato introduces Shake it to make it feature for daily dining discounts of up to 50%, increases platform fee by 25% to Rs 5 per order. Analyst sees no trend reversal yet. The company also suspends its intercity food delivery service temporarily.

Zomato Receives Fresh GST Demand Order - 03 May, 2024

Zomato has received another GST demand and penalty order amounting to over Rs 2 crore from Delhi's sales tax officer, adding to its recent encounters with tax authorities. The company will be filing an appeal against the order before the appropriate authority.

Mixed Views on Zomato Stock Amid Blinkit's Success - 02 May, 2024

While Zomato's stock has surged 200% in the past year, domestic institutional investors are reducing their exposure even as global brokerages increase their targets. Sageone PMS Fund's Kshitij Kaji sees growth potential but prefers other stocks with better valuations.

ICICI Securities Gives Buy Call on Zomato with Target Price of Rs 300 - 01 May, 2024

ICICI Securities has given a buy call on Zomato Limited, with a target price of Rs 300 indicating a potential upside of up to 55%. The upgrade is supported by consistent increase in after-tax profit numbers and Goldman Sachs' valuation of Blinkit at approximately USD 13 Bn.

ICICI Securities Gives Buy Call on Zomato with Target Price of Rs 300 - 30 Apr, 2024

Zomato Ltd, a small-cap company in the services sector, reported a consolidated total income of Rs 3507.00 crore for Q3 FY2024, up 14.61% from the previous quarter and 65.30% YoY. ICICI Securities has given a buy call on Zomato with a target price of Rs 300.

ONDC and NRAI set up Champion Council for restaurant sector growth - 29 Apr, 2024

The ONDC and NRAI have established a Champion Council to ensure growth and wider participation from the casual and fine-dine chains, quick-service restaurants, cloud kitchens, cafes, and regional players in the restaurant sector.

Vanguard Fund Group Buys 2.1% Stake in Zomato Ltd - 28 Apr, 2024

As of March 2024, Vanguard Fund group has purchased a 2.1% stake in Zomato Ltd, which reported revenue of Rs 3,288 crore and net profit of Rs 138 crore in Q3FY24.

Zomato's Engaging Social Media Presence and Innovative Campaigns - 27 Apr, 2024

Zomato stands out in the crowded food delivery space with their engaging social media presence, witty banter with other brands, and innovative campaigns like Zomato Premier League. They regularly post blogs, videos, and city guides on their app and website, catering to a wide range of topics for their audience.

Zomato's Quick Commerce Business Valued Higher than Food Delivery by Goldman Sachs - 26 Apr, 2024

Goldman Sachs has assigned a buy rating to Zomato and raised its price target to ₹240 from ₹170. The brokerage firm believes that the implied value of Zomato's quick commerce business, Blinkit, is now larger than its core food delivery business. Blinkit is being valued at ₹119 per share at a $13 billion equity valuation, higher than the food delivery business, which is being valued at ₹98 per share.

Zomato Tests Priority Delivery Feature and Increases Platform Fee - 25 Apr, 2024

Zomato is testing a priority delivery feature that allows customers to receive their orders faster for an additional fee. The company has also increased its platform fee by 25%, making it Rs 5 per order. Zomato dominates the food delivery market with a 54% share in H1 2023, according to a Bernstein report. The company recently received a GST demand and penalty order totaling Rs 11.81 crore.

Zomato Pilots Extra Fees for Quicker Delivery - 24 Apr, 2024

Zomato is testing a feature to charge extra fees for faster delivery in select locations. In Q4 2023, Zomato's food delivery business reported a 30% YoY increase in adjusted revenue, reaching Rs 2,025 crore on a consolidated basis. The company also reported a net profit of Rs 138 crore against a loss of Rs 347 crore in the year-ago period. However, Zomato's stock is trading at over 100 times forward earnings, well above multiples for global peers.