Zomato Slips The Most In Two Weeks As Analysts Flag Slowdown In Monthly Users

Shares of Zomato Ltd. fell nearly 8.5%, the steepest intraday decline in over two weeks after analysts flagged a slowdown in the company’s monthly transacting users and gross order value.

• Trading volume was nearly three times the 30-day average volume at this time of the day.
• Zomato reported 9% sequential growth in consolidated revenue in Q3, in-line with estimates.
• Net loss was at Rs 63.2 crore vs a loss of Rs 429.6 crore QoQ.
• Of the 19 analysts tracking the company, 15 maintain ‘buy’, one suggests ‘hold’ and two recommend ‘sell’. The overall consensus price of analysts tracked by Bloomberg implies an upside of 62.9%.

• Zomato share price falls more, down 32% in one week; Kotak Securities sees massive upside, stock may double
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Source: Exchange Filing, Bloomberg

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