Meesho Ltd. is under oressure today, ahead of it Q4 results announcement. Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, the e-commerce marketplace is headquartered in Bengaluru. Meesho had reported a 26.25% year-on-year (YoY) rise in consolidated total income to Rs 3,596.4 crore in Q3FY26 from Rs 2,848.6 crore in Q3FY25. It reported a loss of Rs 490.7 crore in Q3FY26 compared to a loss of Rs 37.4 crore in Q3FY25.
Shares of Meesho are trading 4.37% lower, at Rs 194.82 apiece.
Of the nine analysts that track Meesho, five have a 'buy' call on the stock, three have a 'hold' and only one has a 'sell' call on the stock, as per Bloomberg data.
Last week, JPMorgan initiated coverage with an “Overweight” rating and a target price of Rs 215, signalling meaningful upside from current levels.
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JPMorgan's bullish stance hinges on Meesho's ability to grow transaction value faster than its user base, driven by rising engagement and frequency rather than just new customer additions. The brokerage expects Meesho's NMV (net merchandise value) to grow at a strong pace, even as user growth moderates. This shift from scale to depth—higher spending per user — could sustain a 23% CAGR through FY31.
Key drivers include increased purchase frequency, expansion into new categories, and the scaling of initiatives like Mall and Content Commerce. Together, these are expected to reduce reliance on pure user growth and strengthen the platform's monetisation engine.
In March, HSBC Global Research had initiated coverage on Meesho with a “Hold” rating, highlighting the company's strong position in India's value e-commerce segment but cautioning that improving profitability could prove difficult without slowing growth. The brokerage had set a target price of Rs 160 on the stock, implying limited upside from current levels.
According to HSBC, Meesho emerged as a key player in India's value-focused online retail market, catering primarily to price-sensitive consumers.
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