Meesho shares crack 5% as weak Q2 outlook spooks Street; Citi, Morgan Stanley react
Agencies Meesho shares fell after the company warned of slower NMV growth in the September quarter. Meesho attributed the growth to better delivery conversion, aided by lower cancellations and reduced return-to-origin rates, along with higher platform monetisation.What are analysts saying?Citi maintained its Buy rating on Meesho and raised the target price to Rs 220 (16% upside) from Rs 210. The brokerage called it a solid quarter, with growth in line with expectations and strong marketplace pricing power.
- ▪Agencies Meesho shares fell after the company warned of slower NMV growth in the September quarter.
- ▪Meesho attributed the growth to better delivery conversion, aided by lower cancellations and reduced return-to-origin rates, along with higher platform monetisation.What are analysts saying?Citi maintained its Buy rating on Meesho and raise
- ▪The brokerage called it a solid quarter, with growth in line with expectations and strong marketplace pricing power.
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Agencies Meesho shares fell after the company warned of slower NMV growth in the September quarter. Shares of Meesho declined as much as 5% to their day’s low of Rs 181.30 on the BSE on Friday after announcing that it expects on-year growth in net merchandise value (NMV) to dip in the July-September quarter, and plans to increase spending on acquiring new users as it builds up to the festive season. #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important}…
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