Zomato share price NSE, BSE:  Zomato shares, which have seen an almost unabated rise in the past 12 months, continue to get "buy" calls from leading brokerages as they see more steam left in the multi-bagger stock. The latest on the list is UBS.
 
The global brokerage has maintained its buy call on the food services major with a target of Rs 195, implying a potential upside of 22 per cent.

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In trade on Monday, March 18, 2024, shares of the company traded a tad higher after swinging to losses. 
 
UBS is of the view that the industry volume is up 4 per cent month-on-month in line with seasonality; nevertheless, a sequential decline in gross merchandise value (GMV) may be possible. Besides, UBS sees some downside to consensus estimates (+1% QoQ) and expects year-on-year growth to remain healthy and within management's guidance of 20%+ YoY.
 
Over the last two trading sessions, the stock has climbed nearly 5 per cent to last settle at Rs 160.05 per share.
 
The spurt was likely triggered after the company's quick-commerce business, Blinkit's rival player, Zepto, levied a platform fee, while Blinkit so far has not charged any platform fee. Further, its handling fee is lower.

On Zomato, Zee Business Managing Editor says that the company is now profitable and over a period its profit is expected to soar to Rs 1000 crore. Further, the company's quick commerce business- Blinkit's EBITDA is slated to turn positive soon. Also, he added that over the next 10 years, the company's Blinkit business will turn out to be more value-accretive. 

In addition, in Q1FY25, the adjusted EBITDA of the company's quick-commerce enterprise is seen to break even.