Indian food delivery company Zomato's stock surge of 260% since April 2021 outperforms global delivery stocks.
Indian food delivery company Zomato has significantly outperformed global delivery stocks over the past year, with its stock surge of 260% since April 2021. Price target upgrades in the past 12 months for Zomato have exceeded those for all other stocks in a Bloomberg Intelligence gauge of global ride-sharing and delivery peers. The firm's shares are trading at 115 times forward earnings, higher than global peers', and analysts expect operations beyond the core restaurant meal delivery business to improve profit forecasts.
April 15, 2024
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