Broker raises Meesho target to ₹260 as growth and logistics outlook improve
The broker maintained a Buy rating on Meesho, lifting its target price from ₹210 to ₹260. It cited stronger FY29-31 NMV and EBITDA forecasts, expanding buyer and seller bases, ad monetisation and lower logistics costs supporting low-30s FY27 NMV growth.
What happened
Broker maintains Buy on Meesho and raises its target to ₹260, citing stronger medium-term NMV, EBITDA and margin prospects. Seller and buyer growth, ad
Key facts
- Target price raised to ₹260 from ₹210
- FY29-31 NMV estimates raised 7-18%
- FY29-31 EBITDA estimates raised 20-40%
- Logistics cost per parcel declined from ₹44 in Q3 FY26 to ₹42 in Q1 FY27
- Sellers rose 81% YoY to 1.04 million in Q1 FY27
What changed
Broker maintains Buy on Meesho and raises its target to ₹260, citing stronger medium-term NMV, EBITDA and margin prospects. Seller and buyer growth, ad monetisation and declining logistics costs support low-30s FY27 NMV growth expectations.
Why this matters
Meesho’s improving logistics economics, expanding marketplace participation and ad monetisation point to sustained low-30s NMV growth through FY27.
What to watch
- Quarterly NMV growth holding near or above low-30% levels through FY27.
- Active buyer frequency, repeat-rate improvement and net seller additions.
- Advertising revenue or take-rate growth relative to NMV.
- Logistics cost per order, delivery success rates and shipment-density trends.
- Contribution margin and EBITDA trajectory versus the broker's 20-40% FY29-31 estimate upgrades.