New Delhi. Zomato shares created a new history on Thursday, touching an all-time high of Rs 284.30 with a gain of nearly four per cent. Global brokerage firm UBS has maintained its 'buy' rating on this multibagger stock. Similarly, JP Morgan and CLSA have increased the target price of Zomato shares. Both brokerages have estimated that Zomato's GMV growth rate in Q2FY25 will be seven per cent on a quarterly basis. At 3 pm, Zomato's stock was trading at Rs 283.60 on NSE with a gain of 4.36 per cent.

From a technical perspective, Zomato stock is in a strong uptrend and has broken out of the flag formation. At the current level, it is getting good support at Rs 240. MACD and RSI indicators are also pointing towards an uptrend. The stock has gained 127 per cent this year. At the same time, Nifty's return during this period has been 14 per cent.

Zomato stock has given multibagger returns to investors in the last one year , giving 187 percent return in a year
. The price of this stock has climbed 187 percent in this period. Similarly, this multibagger stock has jumped 86 percent in the last six months. This stock has strengthened by 7 percent in a month, while it has climbed 10 percent in the last five trading sessions.

Zomato's shares have been rising since September 4, when brokerage firm JP Morgan raised its target price from Rs 208 to Rs 340. Since then, the company's shares have risen by about 16 percent. JP Morgan has increased its forecast for the financial year 2025 to 2027 by 15 to 41 percent.

Zomato Share Target Price
Global brokerage firm UBS has maintained its buy rating on Zomato shares and has given a target of Rs 320 to this multibagger stock. JP Morgan has also increased its target price from Rs 208 to Rs 340. CLSA's stance is also positive. CLSA has also increased the target price of Zomato shares from Rs 350 to Rs 353.