Bernstein Bullish on Info Edge, Raises Price Target by Investing.com

Info Edge reported steady growth for the first quarter of FY2025, driven primarily by its recruitment segment. Naukri’s billings grew 9% year-on-year, supported by increased hiring in the GCC and consulting sectors.

The real estate segment, 99 Acres, also performed strongly, with revenue up 19.5% year-over-year.

Bernstein raised its price target to INR 7,940, implying a potential upside of 10%. The brokerage attributes this to the recovery in IT hiring, which is expected to boost Naukri’s performance.

In addition, the stabilization of the real estate market is expected to benefit 99 acres.

“We expect a continued improvement in recruitment billings and higher value of investments (Zomato/Policybazaar) to be the key drivers for the stock’s performance,” analysts said.

While the startup’s valuation has been adjusted downward, recovering IT bills and strong performance in other segments remain key catalysts for the stock.

Bernstein’s bullish stance on Info Edge is supported by the expectation of continued growth in recruiting activity, a stabilizing housing market and the overall strength of the company’s investment portfolio.