Zomato (Eternal) Share Price Target 2026: Analyst Consensus, Bull Case & Bear Case

Zomato (Eternal) is trading at around Rs 255 as of late June 2026, against a 52-week high of Rs 368.45 and a 52-week low of Rs 212.60. After a strong Q4 FY26 print, the Zomato (Eternal) share price target is back in focus, with bullish brokerages such as Morgan Stanley and Goldman Sachs setting 12-month targets of Rs 340 to Rs 347, implying roughly 30 to 35 percent upside from current levels.

Whether you are a long-term holder reassessing your position or a new investor evaluating entry levels, understanding where analysts see Eternal (Zomato) heading over the next 12 to 24 months requires looking beyond the current market price. This article covers the latest share price, key catalysts and risks, technical support and resistance, institutional positioning, and a structured breakdown of the short-term, 2026, 2027 and long-term Zomato (Eternal) share price targets.

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About Zomato (Eternal)

Eternal Ltd (formerly Zomato) is a leading Indian consumer internet company and a Nifty 50 constituent, with a market capitalisation of around Rs 2,46,000 crore. It now operates four key verticals: Zomato (food delivery), Blinkit (quick commerce), District (going-out and event ticketing) and Hyperpure (B2B restaurant supplies). The group is led by founder Deepinder Goyal, with Blinkit founder Albinder Dhindsa appointed Group CEO.

In Q4 FY26, the company reported revenue of around Rs 17,634 crore and net profit of Rs 174 crore, up about 346 percent year on year, with EBITDA of Rs 828 crore. For the full year FY26, revenue rose about 169 percent to Rs 54,364 crore, while net profit eased to Rs 366 crore as the company kept investing in growth. The stock trades at a steep trailing price-to-earnings ratio of around 670 times and a price-to-book of about 7.9 times, and pays no dividend, so the Zomato (Eternal) share price target rests almost entirely on future growth rather than current earnings.

At its 52-week high of Rs 368.45, Eternal (Zomato) commanded a rich premium built on quick commerce optimism. The pullback to around Rs 255, roughly 30 percent off the peak, has reset expectations and reopened the debate between investors who see a long runway and those wary of the valuation. The share price target discussion below is structured to help you weigh both scenarios.

Zomato (Eternal) Share Price Snapshot – June 2026

Parameter	Value	Context
Current Market Price (CMP)	Rs 255	NSE, late June 2026
52-Week High	Rs 368.45	Peak valuation benchmark
52-Week Low	Rs 212.60	Support floor reference
1-Year Return	Roughly flat	Broadly in line with market
6-Month Return	About -10%	Recent pullback from highs
Market Cap	Rs 2,46,000 Cr	Full market capitalisation
Trailing P/E	About 670x	Vs industry around 116x
P/B Ratio	About 7.9x	Asset value premium
EPS (TTM)	Rs 0.38	Trailing twelve months
Dividend	Nil	No dividend for FY26
Analyst Rating	Buy / Overweight	Morgan Stanley, Goldman Sachs

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5 Key Catalysts for the Zomato (Eternal) Share Price in 2026

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1. Blinkit Scaling and Store Expansion

Blinkit, Eternal's quick commerce engine, is the single biggest driver of the Zomato (Eternal) share price target. In Q4 FY26, Blinkit's net order value (NOV) jumped about 95 percent year on year to Rs 14,386 crore, and the company remains on track to reach 3,000 stores by March 2027. Faster store additions and higher throughput per store would directly support the bull case for the share price.

2. Quick Commerce Profitability Inflection

After years of cash burn, Blinkit turned adjusted EBITDA positive in Q4 FY26, posting Rs 37 crore against a loss of Rs 178 crore a year earlier. Sustaining and widening this profitability, even as the store network expands, is the key swing factor for whether Eternal (Zomato) can re-rate toward the analyst targets of Rs 340 to Rs 347 or stalls near current levels.

3. Food Delivery 20 Percent NOV Growth

The core food delivery business grew NOV about 19 percent year on year to Rs 9,757 crore in Q4 FY26, with management guiding toward 20 percent plus growth and 5 to 6 percent margins. A steady, profitable food delivery engine provides the cash flow that funds quick commerce expansion, and any acceleration here is a clear positive for the Zomato (Eternal) share price.

4. Hyperpure and District Optionality

Hyperpure, the B2B supplies arm, turned adjusted EBITDA positive in Q4 FY26 even as revenue was deliberately rationalised, while District (going-out and event ticketing) adds a fresh growth vertical. Progress on these smaller businesses offers optionality and a longer runway beyond the two core segments.

5. New Leadership Execution

Q4 FY26 was the first quarter under new Group CEO Albinder Dhindsa, Blinkit's founder. How the new leadership balances aggressive quick commerce expansion against margin discipline will shape how analysts model the Zomato (Eternal) share price target through FY27, making management commentary on each earnings call an important catalyst to track.

Key Risks to the Zomato (Eternal) Share Price Target

Stretched Valuation Near 670x Earnings

At a trailing P/E of around 670 times, far above the industry average near 116 times, Zomato (Eternal) is priced for years of rapid growth. In a risk-off environment, such high-multiple stocks face disproportionate selling, and any growth disappointment could trigger sharp valuation compression regardless of the long-term story.

Sustained FII Selling

Foreign institutional investors have steadily cut their stake in Eternal (Zomato) from about 44 percent in March 2025 to about 33 percent in March 2026. Domestic mutual funds have absorbed much of this selling, but continued FII outflows could cap upside and pressure the share price, especially during global risk-off phases.

Quick Commerce Competition and Margin Pressure

Quick commerce is intensely competitive, with well-funded rivals expanding aggressively. Elara Capital has flagged margin pressure for Eternal and Swiggy from rising fuel costs and softer advertising revenue. A prolonged price or expansion war could delay the profitability inflection that the bull case depends on.

Earnings or Guidance Disappointment

With expectations now elevated after a strong Q4 FY26, any miss in upcoming Q1 FY27 results or a cautious FY27 outlook could pull the stock sharply lower from current levels. High-growth, high-multiple stocks are especially sensitive to quarterly surprises, so investors should expect volatility around results.

Macro and Global Sentiment

As a domestic-demand consumer internet business, Eternal (Zomato) has limited direct exposure to global trade tensions, but it remains sensitive to overall market sentiment and FII flows. A broad risk-off move in Indian equities, driven by global macro or currency pressure, would weigh on high-beta names like this one.

Technical Analysis: Support and Resistance Levels

Zomato (Eternal) is trading around Rs 255, roughly 30 percent below its 52-week high of Rs 368.45 but well above its 52-week low of Rs 212.60. The stock has been consolidating after recovering off its lows, with the Rs 212 to Rs 230 zone acting as strong support and the Rs 290 to Rs 300 area as the key overhead resistance to reclaim.

For the broader uptrend to resume, the stock needs to hold above the Rs 230 support and close decisively above its longer-term moving averages and the Rs 300 zone, which would open the path toward the analyst share price targets. A sustained break below Rs 230 would signal renewed weakness toward the 52-week low. For swing traders, the near-term trading band is roughly Rs 240 to Rs 285.

Institutional Positioning and Shareholding

Institutional ownership trends offer one of the clearest reads on Zomato (Eternal). Over the past year, foreign institutional investors steadily reduced their holding from about 44.4 percent in March 2025 to about 32.6 percent in March 2026. Strikingly, domestic mutual funds moved in the opposite direction, lifting their stake from about 19.4 percent to about 28.9 percent over the same period, with domestic insurers adding further.

This hand-off from foreign to domestic institutions, alongside steady retail participation near 31 percent, has cushioned the stock even as FIIs sold. A reversal in FII flows, often triggered by a strong earnings run or improving global risk appetite, would remove a key overhang and could accelerate the next leg toward the analyst share price targets. Eternal has no promoter holding, so institutional and retail flows drive the price.

Zomato (Eternal) Share Price Target 2026 and 2027: Short, Medium and Long Term

Short-Term Price Target (3 to 6 Months)

In the near term, the Zomato (Eternal) share price is likely to trade in a Rs 240 to Rs 285 band, pending the next set of catalysts including Q1 FY27 results and quick commerce store-rollout updates. The bull case for the 3 to 6 month window would need continued Blinkit momentum and stable food delivery margins, which could push the stock toward the upper end of that range or beyond.

12-Month Analyst Consensus Target

Scenario	Price Target	Assumption
Bear Case	Rs 215 to 230	Growth or margin disappointment, sustained FII selling
Base Case (Consensus)	Rs 330 to 350	In-line execution; Morgan Stanley Rs 347, Goldman Rs 340
Bull Case	Rs 380 to 430	Faster Blinkit profitability and re-rating
Short-Term Range	Rs 240 to 285	3 to 6 month trading band
Long-Term (2027-28)	Rs 420 to 520	Sustained quick commerce compounding

The 12-month Zomato (Eternal) share price target from bullish brokerages clusters around Rs 340 to Rs 347, with Morgan Stanley maintaining an Overweight rating at Rs 347 and Goldman Sachs a Buy at Rs 340 after the strong Q4 FY26 results. This base case assumes continued quick commerce scaling, steady food delivery growth and no major macro shock. In the bear case, a growth disappointment combined with sustained FII selling could drag the stock back toward its 52-week low near Rs 215 to Rs 230.

Long-Term Target (2027 to 2028)

For investors with a 2 to 3 year horizon, the long-term Zomato (Eternal) share price target points toward Rs 420 to Rs 520. This is predicated on Blinkit sustaining its guided 60 percent plus NOV CAGR over FY26 to FY29, food delivery compounding at 20 percent plus with stable margins, the quick commerce business turning durably profitable, and FII flows stabilising. Any material slowdown in quick commerce or a prolonged margin war would push this timeline out.

Conclusion

Zomato (Eternal) (NSE: ETERNAL) is trading around Rs 255, with a 12-month analyst consensus target of Rs 330 to Rs 350 (bullish brokerages at Rs 340 to Rs 347) and a long-term outlook of Rs 420 to Rs 520. A strong Q4 FY26, with net profit up about 346 percent and Blinkit turning adjusted EBITDA positive, has improved sentiment, even as the roughly 670x valuation keeps the risk-reward finely balanced. Key catalysts include Blinkit scaling and quick commerce profitability, while the main risks are the rich valuation, sustained FII selling and competitive margin pressure.

Whether Eternal (Zomato) is a good buy at current levels depends on your investment horizon, risk appetite and portfolio context. The bear case is defined near Rs 215 to Rs 230, while the 12-month upside at consensus is clear. For long-term investors who can hold through volatility, the current zone may offer an entry, but position sizing and ongoing monitoring of quarterly execution and FII flows are essential.

Disclaimer: Investment in the share market is subject to risk. This article is for informational and educational purposes only and does not constitute investment advice by Univest (SEBI RA INH000013776). All analyst targets and financial data are sourced from publicly available information, including NSE and BSE filings, Groww, and brokerage reports, and may or may not be accurate. Analyst targets are estimates and may change. Please verify all numbers with the official NSE (nseindia.com) and BSE (bseindia.com) websites and consult a SEBI-registered financial advisor before making any investment decision.

Frequently Asked Questions

What is the Zomato (Eternal) share price target for 2026?

Ans. The 12-month Zomato (Eternal) share price target from bullish brokerages is Rs 340 to Rs 347, with Morgan Stanley at Rs 347 (Overweight) and Goldman Sachs at Rs 340 (Buy) after a strong Q4 FY26. The base case range is Rs 330 to Rs 350, the bear case is Rs 215 to Rs 230, and the bull case is Rs 380 to Rs 430. These are analyst estimates and actual performance may differ.

Is Zomato (Eternal) a good buy at Rs 255?

Ans. At around Rs 255, Eternal (Zomato) trades at a trailing P/E of about 670 times, so it is priced for strong future growth. The analyst consensus is Buy, with 12-month targets of Rs 340 to Rs 347. Whether it is a good buy depends on your risk tolerance and horizon, and the high valuation leaves little room for error. Consult a SEBI-registered financial advisor before investing.

What is the Zomato (Eternal) share price target for 2027?

Ans. For 2027 and into 2028, the long-term Zomato (Eternal) share price target is around Rs 420 to Rs 520, assuming Blinkit sustains 60 percent plus NOV growth, food delivery compounds at 20 percent plus, and quick commerce turns durably profitable. This long-term target assumes no major deterioration in fundamentals or the macro environment.

Why has Zomato (Eternal) fallen from its high?

Ans. Zomato (Eternal) is down about 30 percent from its 52-week high of Rs 368.45 to around Rs 255, though it is roughly flat over the past year. The pullback reflects profit booking after a strong run, sustained FII selling (foreign holding fell from about 44 percent to 33 percent over the year), and its very high valuation. A strong Q4 FY26 has since improved sentiment.

What is Zomato (Eternal)'s dividend?

Ans. Zomato (Eternal) does not currently pay a dividend, so the dividend yield is 0 percent. The company is reinvesting cash into quick commerce expansion and other growth verticals rather than returning capital to shareholders, which is typical for a high-growth consumer internet business.

What are the key risks for Zomato (Eternal) in 2026?

Ans. The key risks include its very high valuation near 670x earnings, sustained FII outflows, intense quick commerce competition and margin pressure from rising costs, the risk of an earnings or FY27 guidance miss, and broad market or macro driven risk-off moves. Investors should monitor quarterly results and FII and DII flows closely.

What are Zomato (Eternal)'s 52-week high and low?

Ans. Zomato (Eternal)'s 52-week high is Rs 368.45 and its 52-week low is Rs 212.60. The current price of around Rs 255 sits in the lower half of that range, about 30 percent below the high and roughly 20 percent above the low.

How can I track Zomato (Eternal) share price target updates?

Ans. You can track live price alerts, analyst upgrades and downgrades, FII and DII flows, and fundamental changes for Zomato (Eternal) on the Univest Screener and Univest App. Download the Univest iOS App or Univest Android App to receive research from SEBI-registered analysts and set custom price alerts for the ETERNAL stock.