Stock market today | Stocks to buy today | Swiggy share price target: After bleeding for four straight sessions, Swiggy shares saw strong buying in Monday’s trading. Swiggy’s share price today opened at ₹176 per share and touched an intraday high of ₹186.65, logging a 6% gain over the previous close of ₹176.
According to stock market experts, Swiggy’s Q2 results 2026 were in line with market estimates, but the stock fell amid weak sentiment on Dalal Street. They said that the food delivery company’s business volume, profit, and revenue grew during the second quarter of the financial year 2026-27, and the company’s guidance also indicates a positive outlook for its growth trajectory. Global investment bank Jefferies has set a Swiggy share price target of ₹435, while Elara Securities has set a target price of ₹300 for Swiggy shares post-Q2 2026 results.
Swiggy Q2 Results 2026 review
Decoding the Swiggy’s Q2 results 2026, Elara Securities report says, “We raise revenue estimates by 3-4% for FY27E-29E and widen our FY27E EBITDA loss estimate by 32%. We value FD at 34x Dec-28E EV/EBITDA (from 38x), as we retain a ~10% discount to ETERNAL (cut to 38x from 42x), and Instamart at ~0.2x EV/NOV.”
The Jefferies India report said that Swiggy’s FD reported an in-line qtr on both topline & EBITDA. Q/C NOV QoQ growth was in D/D, although YoY moderated. Q/C adj. EBITDA losses swelled to a three-quarter high of ₹900 crore – this remains a key issue for the stock, with the current price not even factoring in the value of Food Delivery & current cash. Performance also appears lackluster compared with the market leader, Eternal. We believe a reduction in Q/C losses is essential for true value discovery.
Swiggy share price target
Despite reducing the upside target from ₹350 to ₹300, Elara Securities maintains a ‘buy’ tag for Swiggy shares, saying, “We pare our SoTP-TP to ₹300 (from ₹350) but upgrade to Buy from Accumulate, following a ~22% decline in share price over the past three months. For FD, our EV of ₹67,600 crore, plus net cash, exceeds Swiggy’s current market cap of ₹58,400 crore by 23%, implying not just zero value for Instamart but also a discount to the standalone value of FD itself. At CMP (adjusted for net cash and Instamart), FD trades at 20x EV/ EBITDA (post-ESOP) on FY29E, below QSR company valuations, and we view the discount as unwarranted. Higher-than-expected losses in Instamart and slower margin expansion in FD are key risks.”
On suggestions to stock investors regarding Swiggy’s shares, the Jefferies India report says, “We make a series of changes that increase adj. EBITDA losses over the forecast period. We also cut multiple for food delivery, as Q/C loss reduction remains critical given that this is the key investor concern and hence revise down our SOTP-based PT to ₹330.”
It should be noted that the Jefferies India report has kept Swiggy shares in the list of high-risk-reward stocks. The global investment bank has reduced its Swiggy share price target from ₹435 to ₹330 following the Q2 results.
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
