Paytm Shares Price: Paytm’s parent company One97 Communications reported a consolidated loss of Rs 778.5 crore in the December quarter, higher than the loss of Rs 535.5 crore in the corresponding quarter last year. Analysts have mixed opinions on Paytm’s December quarter results. Due to this, a similar mixed effect was seen on the shares of Paytm. As soon as trading started in the stock market on Monday, Paytm’s shares fell by 5 per cent, but as the day progressed, it not only recovered its loss, but also saw an increase of 3 per cent.
Paytm’s consolidated revenue grew 88% to Rs 1,456 crore in the December quarter as against Rs 772 crore in the same quarter last year.
Goldman Sachs gives BUY rating to Paytm
Brokerage firm Goldman Sachs has upgraded Paytm’s rating to “BUY” and has given a target price of Rs 1,460 for the stock, which is about 53 per cent higher than its current price.
Goldman Sachs said, “We believe that Paytm’s impressive 88% revenue growth in the third quarter will help address investor concerns about declining payments rates in recent years. Additionally, Paytm has launched a Unified Payments Interface (UPI). (UPI) and non-UPI segments continue to grow its market share, with its lending business also showing strong growth (201 per cent year-on-year in December quarter).
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The brokerage said it has hiked Paytm’s revenue estimates by 7-10% and expects the growth momentum to continue. Goldman Sachs has forecast 89% year-on-year growth in revenue for Paytm in the fourth quarter of the current financial year and expects the company’s revenue to grow at 35 per cent annual growth between FY 2022 and 2025.
On the other hand, Sumeet Bagadia of Choice Broking believes that if Paytm shares cross the Rs 1,000 level, then this stock is expected to rise further.
Macquarie expects fall in Paytm shares
However, brokerage firm Macquarie Research has predicted further decline in Paytm shares. The brokerage has maintained an ‘underperform’ rating for Paytm in a note and has given a target price of Rs 700 for the stock, which is about 22% lower than its current price.
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