Zomato price target: UBS maintained its ‘Buy’ on Zomato with a price target of Rs 250. It said Zomato’s Q4 was in line with estimates at GOV and revenue levels, but missed Ebitda estimates due to higher employee costs.
Shares of online food delivery giant Zomato fell sharply on Tuesday even as the company announced strong Q4 results a day ago.
Zomato shares fell as much as 6% in early trade, but rebounded to trade 1.63% lower at Rs 190.55 at around 10:45 am.
The company reported a consolidated net profit of Rs 175 crore, compared to a loss of Rs 188 crore in the same period a year ago. Its revenue from operations stood at Rs 3,562 crore, compared to Rs 2,056 crore in the corresponding period a year ago