{"id":2579,"date":"2024-09-13T15:47:13","date_gmt":"2024-09-13T10:17:13","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=2579"},"modified":"2024-09-13T15:47:15","modified_gmt":"2024-09-13T10:17:15","slug":"zomato-shares-off-record-high-heres-why-bernstein-has-raised-target-price","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/zomato-shares-off-record-high-heres-why-bernstein-has-raised-target-price\/","title":{"rendered":"Zomato shares off record high, here\u2019s why Bernstein has raised target price"},"content":{"rendered":"\n<p>Global brokerage Bernstein, however, has an outperform call on the stock and has raised its target price to \u20b9330 from \u20b9275 earlier. This implies it sees a potential upside of 16% in the Zomato share price from the closing of September 12.<\/p>\n\n\n\n<p>Bernstein is of the view that Zomato is prioritising long-term leadership over short-term profitability and it likes the strategy and update estimates for BlinkIt upwards.<\/p>\n\n\n\n<p>The brokerage house believes quick commerce is a compelling product and all consumers are embracing it, and Zomato remains at the centre of the convenience.<\/p>\n\n\n\n<p>Earlier this week UBS in its report pointed out that on a month-on-month basis, Zomato&#8217;s order growth of 1.8% lagged Swiggy&#8217;s 3.1% in August continuing a trend of monthly push and pull since the start of 2024. However, when Zomato&#8217;s August 2024 volumes are compared with December 2023, the growth stands at 25% compared to Swiggy&#8217;s 18% gain.<\/p>\n\n\n\n<p>In a separate report, Elara Securities India said that its primary checks suggest there is a likelihood that quick commerce companies may be able to scale up in non-metros, which would bolster their growth prospects in the medium to long term.<\/p>\n\n\n\n<p>\u201cWe continue to believe qCommerce is a user experience-led moat for market leaders like Zomato\u2019s Blinkit; however, any regulation to cap discounts may have a negative impact on growth rates; in contrast, adoption of qCommerce beyond non-metros with sustainable profitability will drive growth rates of 70-80% for the medium to long term,\u201d it said.<\/p>\n\n\n\n<p>From a technical point of view, Axis Securities in its note on September 12 said, that Zomato exhibited a strong breakout above the consolidation zone between 280-249, marked by a decisive bullish candle on the weekly chart, reinforcing the continuation of the medium-term uptrend.<\/p>\n\n\n\n<p>The stock has given a return of 124% to its investors in 2024 (year-to-date) as against the benchmark index Nifty 50 which has risen almost 17% during the period.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.eqwires.com\/tutorials\/who-is-the-best-sebi-registered-investment-advisor-in-i\">Eqwires Research Analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><strong><a href=\"https:\/\/www.eqwires.com\/\">Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\">Best SEBI registered Intraday tips provider <\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><a href=\"mailto:info@eqwires.com\"><strong>info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color\"><strong><a href=\"https:\/\/t.me\/eqwires\">Telegram&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/www.facebook.com\/eqwires\/\">Facebook&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/instagram.com\/Eqwires\">Instagram<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color\"><strong>Call: +91 9624421555 \/&nbsp;<em>+91 9624461555<\/em><\/strong><\/p>\n\n\n\n<p><strong><a href=\"http:\/\/www.eqwires.com\/\">www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global brokerage Bernstein, however, has an outperform call on the stock and has raised its target price to \u20b9330 from \u20b9275 earlier. This implies it sees a potential upside of 16% in the Zomato share price from the closing of September 12. Bernstein is of the view that Zomato is prioritising long-term leadership over short-term profitability and it likes the strategy and update estimates for BlinkIt upwards. The brokerage house believes quick commerce is a &hellip; <a href=\"https:\/\/www.eqwires.com\/tutorials\/zomato-shares-off-record-high-heres-why-bernstein-has-raised-target-price\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Zomato shares off record high, here\u2019s why Bernstein has raised target price&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":2582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,172,136,138,134,164,217,368,139,140,324,106,272,266,98,72,97,184,73,268,135,137,133,330,104,141,299,161,160,159,74,210,75,158,166,311,228,227,103,254,102,224,257,298,300,101,105,301,165,327,329,76,77,78,79,247,365,308,361,363,215,216,174,80,81,99,218,82,340,339,320,183,168,167,170,251,83,84,85,86,87,108,88,202,155,154,273,89,100,90,91,92,93,94,95,236,255,385,232,231,250,96,3,260,252,248,249,322,107,192,220,360,275,223,156,157,341,246,238,207,177,176,175],"tags":[4,5,267,6,200,7,12,116,19,149,147,173,145,14,118,11,150,153,265,120,9,271,190,191,13,188,18,318,8,185,316,10,17,269,148,151,146,15,331,319,16,122,144,162,23,41,25,24,27,21,194,50,312,229,226,124,33,253,126,225,119,20,258,28,297,49,127,315,121,230,295,125,115,22,113,29,328,333,317,332,334,314,52,123,131,348,366,357,309,310,359,362,354,349,351,364,213,26,182,111,130,31,62,34,30,42,219,57,112,186,169,56,171,64,132,206,59,53,264,128,43,336,242,237,51,110,32,187,35,55,44,270,288,196,47,37,195,45,39,36,40,203,38,143,152,129,142,46,48,63,67,60,61,65,234,71,235,54,256,117,386,233,68,193,241,335,205,261,263,209,262,337,244,66,204,70,109,259,221,291,274,222,163,69,58,342,239,208,114,178,181,179,180,290],"class_list":["post-2579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accurate-stock-tips-provider-in-india","category-best-advisory-service-provider-for-beginners","category-best-bank-nifty-future-calls","category-best-bank-nifty-options-tips-provider","category-best-bank-nifty-trading-tips-provider","category-best-equity-advisory-services-in-india","category-best-ethical-investment-advisor-in-india","category-best-financial-advisor-websites-in-india","category-best-index-future-services","category-best-index-options-services","category-best-intraday-advisor-in-india","category-best-intraday-call-provider","category-best-intraday-jackpot-calls","category-best-intraday-research-company","category-best-intraday-tips-for-tomorrow","category-best-intraday-tips-provider-in-india","category-best-intraday-tips-site","category-best-intraday-tips-website-in-india","category-best-investment-advisor-in-india","category-best-jackpot-tips-provider","category-best-nifty-future-calls","category-best-nifty-options-tips-provider","category-best-nifty-trading-tips-provider","category-best-option-trading-telegram-channel","category-best-options-tips-provider-in-india","category-best-options-trading-tips-provider-in-india","category-best-paid-stock-recommendation-sites-india","category-best-performing-pms-in-india","category-best-pms-in-india","category-best-portfolio-management-services-in-india","category-best-sebi-registered-advisory-company","category-best-sebi-registered-investment-advisor","category-best-sebi-registered-investment","category-best-sebi-registered-research-analyst","category-best-sebi-registered-stock-tips-provider","category-best-sebi-registered-telegram-channel","category-best-share-market-advisor-in-india","category-best-share-market-advisory-company-in-india","category-best-share-market-consultants-in-india","category-best-share-market-tips","category-best-share-market-tips-provider-in-india","category-best-share-tips-provider-in-india","category-best-stock-advisor","category-best-stock-advisor-websites-in-india","category-best-stock-advisory-service-in-india","category-best-stock-market-advisory-services-in-india","category-best-stock-market-tips-provider-service","category-best-stock-recommendation-service-in-india","category-best-stock-tips-provider-in-india","category-best-stock-tips-provider-in-telegram","category-best-telegram-channel-for-stock-market-tips-in-india","category-business","category-commodity-market","category-currency","category-equity-market","category-equity-research-analyst","category-eqwires-best-investment-advisor-in-india","category-eqwires-best-sebi-registered-investment-advisor-in-india","category-eqwires-best-stock-advisor-websites-in-india","category-eqwires-most-successful-stock-advisors-in-india","category-ethical-sebi-registered-investment-advisor","category-ethical-sebi-registered-research-analyst","category-fact-about-operator-based-calls","category-fii-based-calls","category-foreign-markets","category-free-intraday-stock-tips-for-tomorrow","category-genuine-intraday-tips-provider","category-genuine-stocks-tips-provider","category-googles-highest-ranking-sebi-registered-research-analyst","category-googles-highest-ranking-sebi-registered-stock-advisory-company","category-high-accuracy-intraday-tips","category-how-can-i-make-profit-in-intraday-trading","category-how-to-earn-profit-from-intraday-trading","category-how-to-invest-in-stock-market","category-how-to-make-profit-in-intraday-trading-in-share-market","category-intraday-tips","category-intraday-tra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