Best Stocks to Buy Today : Kotak Securities's call on Zomato

On April 4th, Kotak Securities issued a buy call for Zomato, recommending investors to purchase the stock. They have set a target price of Rs 200, indicating their belief in the stock's potential to rise in value. The current market price of Zomato is Rs 182.8, leaving room for potential growth as per Kotak Securities' analysis. This buy call suggests that Kotak Securities anticipates a positive trajectory for Zomato in the near future.

About Zomato:

Zomato is an Indian multinational restaurant aggregator and food delivery company headquartered in Gurugram, Haryana, India. It provides information, menus, and user-reviews of restaurants as well as food delivery options from partner restaurants in selected cities. As of 2023, the service is available in 24 countries and over 10,000 cities. Zomato was founded in 2008 by Deepinder Goyal and Pankaj Chaddah as Foodiebay, before changing its name to Zomato in 2010. The company's revenue primarily comes from commission on food delivery orders, advertising, and subscription fees for its Zomato Pro loyalty program.

52 Week Price Trend:

Zomato's share price has witnessed a surge since its low of Rs. 49 during the 52-week period, reflecting a significant 273% increase. However, despite reaching a high of Rs. 168.5, it has since corrected to its current price of Rs. 182.8. This correction could be attributed to factors such as overall market conditions, competitive pressures, or changes in investor sentiment. Nevertheless, Zomato's strong position in the food delivery segment and its potential for growth in the long term indicate that the stock may still have room for further appreciation.

Stratzy's MOST Analysis:

Zomato has been rated BB- by Stratzy's MOST framework, indicating medium fundamental risk. The framework assesses stocks based on Management, Outlook, Safety, and Trend (MOST). Zomato's BB- rating suggests that it faces some management concerns, potential challenges in its outlook, and moderate safety risks. However, the company's positive trend indicates that it may be improving in these areas and has potential for growth.

Fundamental and Technical information provided in this blog were last updated on 04 Apr, 2024

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