Swiggy shares crash 14%, hit 52-week low after Q2 results. Here’s why Jefferies, Nomura, Bernstein cut target price
Food delivery and quick commerce company Swiggy saw its stock decline sharply following Q2 results announcement. The company reported a Rs 922 crore loss for the quarter, though its operations revenue grew 36% year-on-year to Rs 7,571 crore. The primary concern for investors was widening adjusted EBITDA losses, suggesting the company is struggling to achieve profitability despite top-line growth. Analysts from Jefferies, Nomura, and Bernstein have all downgraded their target prices, citing headwinds in the competitive quick commerce segment.
Key points
- Share price dropped 14% to 52-week low following Q2 results
- Rs 922 crore quarterly loss despite 36% revenue growth
- Adjusted EBITDA loss widened, raising profitability concerns
- Multiple analysts cut target prices citing quick commerce challenges
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