Info Edge shares slid 2.9% to ₹1,189.6 after Thursday’s Q2 business update, only to open higher on Friday as brokerages reiterated a bullish stance—JPMorgan kept an overweight rating.
The company reported EBITDA growth of 28% YoY, reaching ₹280 crore, while total billings rose 13% to ₹200 crore. 99acres logged 21% growth, and Naukri added 13%, lifting the recruitment segment to ₹150 crore.
JPMorgan’s target of ₹1,500 reflects a 26% upside from the last close and values the core business at 17x forward earnings‑to‑EBITDA, citing premium hiring and new AI‑enabled offerings as the key drivers.
Citi echoed the sentiment with a buy call and a ₹1,510 target—26.9% upside—highlighting that quarterly billings can swing due to renewal timing. Adjusted growth sits at 14‑15%, and Citi projects a 13.6% rise in recruitment revenues for the September quarter, alongside an 80‑bps improvement in EBITDA margin to 44.8%.
Nomura also rates Info Edge as buy, setting a ₹1,480 target; 20 of the 22 analysts tracking the stock hold a buy rating, with only two recommending a hold.
The consensus foresees continued billings growth around 15% for FY 2027, driven by premium hiring and monetized value‑added services. Market participants are eyeing the next earnings release, scheduled for late November, for clearer guidance on revenue and margin trajectories.