Zomato‘s share price has been on a steady rise for the past month. Shares of the food tech company have gone up over 25% in the past month.

What Happened: The stock received a further boost last month after the company posted its numbers for the March quarter. The company’s consolidated revenue from operations stood at ₹2,056 crore, up 5% sequentially and 70% from the ₹1,211.8 crore revenue it booked in the same quarter last year. The company’s loss contracted significantly in the March quarter at ₹188.2 crore, beating street estimates of around ₹345-₹360 crore.

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Most brokerages remain bullish on the stock after the results. Here are the latest analyst calls and price targets on the stock.

The Investment: If you invest ₹10,000 in Zomato today, with the stock trading at around ₹79 levels, you would receive around 126 shares of the company. Now, if Zomato continues the upward trend, and goes on to hit its all-time high price of ₹169, the value of your 126 shares would surge up to ₹21,294 – more than doubling your initial investment.

The Risk: One should Zomato’s journey on the bourses has been unpredictable and volatile. While Zomato’s recent performance and analyst ratings are promising, there’s no guarantee that the stock will reach its all-time high again. It’s essential to do thorough research and consider your risk tolerance before investing.

Price Action: Zomato’s share price was up 1.74% to trade at ₹78.95 on Monday afternoon.

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Disclaimer: Benzinga India doesn't give financial advice. The above article is for educational purposes alone.

Editor's Note: Artificial intelligence was used as a secondary aid in the writing of this story.