Sharekhan has given Buy recommendation for Info Edge (India) with a target price of Rs. 6100 in its research report issued on Jun 21, 2021

Sharekhan’s research report on Info Edge (India)

The company reported lower-than-expected performance on all fronts; while billings growth remained strong across its segments. Q4 saw further improvement in traffic in its recruitment and 99acres businesses, while Jeevansathi continued its growth momentum. We expect a strong 27% CAGR in revenue over FY2021-FY2023E, led by recovery in billings across key businesses, increasing adoption of online real estate platform, higher hiring activities, and strong volumes in Jeevansathi.com business. We continue to like Info Edge, given its leading market share in its core businesses, proactive in its new product offerings, a strong balance sheet, and proven track record of identifying scalable online businesses early.

Outlook

We retain a Buy rating on Info Edge (India) Limited with a PT of Rs. 6,100, given strong recovery in billings across its business segments and strong prospects of its investee companies.