Macquarie maintains 'underperform' rating on Paytm, sets price target at Rs 730
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Following the third quarter results of One97 Communications-held Paytm, global brokerage firm Macquarie has maintained its ‘Underperform’ rating on the stock with a target price of Rs 730.
The brokerage firm noted that the company delivered strong results across all fronts, with losses declining more than expected. This positive performance was driven by higher revenue and lower employee stock ownership plan (ESOP) costs.
The brokerage firm believes there is an upside risk to Paytm's distribution revenue given the potential for higher take rates, according to its note.
For the third quarter ended December 2024, the fintech major reported that its consolidated loss narrowed to Rs 208.3 crore, compared to Rs 219.8 crore in the corresponding quarter of the previous fiscal year.reported on Monday that its consolidated loss narrowed to Rs 208.3 crore in the December quarter, compared to Rs 219.8 crore in the corresponding quarter of the previous fiscal year.Also read: MCX shares in focus on returning to profitability in Q3, reports Rs 160 cr profit
Paytm share price target
Out of 17 analyst recommendations on Trendlyne, 5 and 1 analyst(s) recommend a ‘strong buy’ and a ‘buy’ on the stock respectively, while 6 suggest ‘hold’. Meanwhile, 2 analysts recommend a ‘sell’ rating on the stock and 3 recommend a ‘strong sell’ on the same.Paytm share price history
In the last one year, the shares of Paytm have jumped by 6.7% and by 82.4% and 15.3% in the last 6 and 3 months respectively. On a year-to-date basis, the stock has fallen by 15.2%.
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This signals a downside potential of nearly 19% from the stock’s closing price on Monday.
The brokerage firm noted that the company delivered strong results across all fronts, with losses declining more than expected. This positive performance was driven by higher revenue and lower employee stock ownership plan (ESOP) costs.
Macquarie also highlighted a strong increase in the company’s gross merchandise value (GMV) and continued improvement in operating leverage.
The brokerage firm believes there is an upside risk to Paytm's distribution revenue given the potential for higher take rates, according to its note.
For the third quarter ended December 2024, the fintech major reported that its consolidated loss narrowed to Rs 208.3 crore, compared to Rs 219.8 crore in the corresponding quarter of the previous fiscal year.reported on Monday that its consolidated loss narrowed to Rs 208.3 crore in the December quarter, compared to Rs 219.8 crore in the corresponding quarter of the previous fiscal year.Also read: MCX shares in focus on returning to profitability in Q3, reports Rs 160 cr profit
Paytm share price target
Out of 17 analyst recommendations on Trendlyne, 5 and 1 analyst(s) recommend a ‘strong buy’ and a ‘buy’ on the stock respectively, while 6 suggest ‘hold’. Meanwhile, 2 analysts recommend a ‘sell’ rating on the stock and 3 recommend a ‘strong sell’ on the same.
Paytm share price history
In the last one year, the shares of Paytm have jumped by 6.7% and by 82.4% and 15.3% in the last 6 and 3 months respectively. On a year-to-date basis, the stock has fallen by 15.2%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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