Zomato stock stares at 44% downside? Macquarie shares target price
Zomato Ltd shares might have fallen 17 per cent in 2025 so far, they stare at 44 per cent further downside if Macquarie’s fresh target price on the stock post Q3 results are taken into consideration.
It said Zomato’s December quarter earnings were below consensus and its estimates, driven by investments in Blinkit and higher employee expenses.
Macquarie said the consensus forecasts Blinkit gross order value (GOV) to increase 3.5 times over FY25-28e (to $11 billion), alongside an expansion in adjusted Ebitda margin (percentage of GOV) from minus 1.3 per cent now to 3.5 per cent.
“In the face of hyper-competition, we continue to flag material downside risk particularly to this margin expansion assumption, whilst even noting scope…
