Could Zomato provide an upside?
There was a modification in the earnings estimate for Zomato Limited (ZOMATO) by analysts on 2024-03-01.
Investors use earnings estimates to compare a company's performance with industry peers and sector benchmarks, aiding in the identification of relative strengths and weaknesses. Average EPS has been revised up from 0.31 to 0.35. These figure are based on the prediction of 20 analysts.
The lower band of yearly EPS is expected to be at 0.08 for the period ending 31-03-2024 and the higher band at 0.49. The average EPS is expected to come in at 0.35. This is an increase of about 1.2919999 from the EPS of -1.2 from a year ago. The average revenue on the other hand is placed at 121127000000 with the lower band at 116156000000 and higher band at 139632000000. As compared to the revenue of 58817100000 from a year ago, the current estimate indicates an increase of roughly 1.059
The uptick in earnings estimates may fuel a price increase preceding the next results, offering investors an early entry window.
The predicted threshold for ZOMATO's stock price, as analyzed by experts, experienced a change on 2024-03-01.
Analysts, in their research reports provide a range of maximum and minimum price projections for a given stock, which investors can draw on to guide their decisions.Analysts, through their exhaustive research reports, furnish investors with a spectrum of maximum and minimum price projections for a particular stock, aiding investors in making informed decisions.
According to a survey of 26 financial experts, ZOMATO's projected price range falls between 60.0 and 227.0, with the average expectation hovering around 158.85.
Any increase in price projections reflects an adjustment in analysts' thinking which gets picked up by investers and generally ignites a bullish upsurge.
Technical Summary
The current price of 160.0 finds support at 102.15 and resistance at 112.95.
The PSAR continues its bearish outlook and sets a level of resistance.
The moving averages for 20-50-100 are aligned bearishly but the slopes for the 20/50 SMAs are starting to waver, indicating a possible move to a bullish price action soon.
