Swiggy shares crash 14%, hit 52-week low after Q2 results. Here’s why Jefferies, Nomura, Bernstein cut target price
Swiggy shares fell 14% to a 52-week low following a reported ₹922 crore loss for Q2. Despite a 36% year-on-year revenue increase to ₹7,571 crore, analysts from Jefferies, Nomura, and Bernstein cut target prices due to widening adjusted EBITDA losses and concerns about the quick commerce segment. Investors are now wary of the company's financial outlook.