Goldman Sachs Optimistic On Paytm, Raises Target Price
NDTV
Global investment firm Goldman Sachs expects October-December 2022 to be another strong quarter for Paytm, with revenue growth of 45 per cent on a yearly basis.
Paytm is expected to be adjusted EBITDA positive in March 2023, two quarters ahead of the estimates and the company's guidance of September 2023.
It is learnt that global investment firm Goldman Sachs expects October-December 2022 to be another strong quarter for Paytm, with revenue growth of 45 per cent on a yearly basis, adding that its margins print in the quarter would further increase the markets' confidence around the company's ability to be profitable in 2023.
Notably, the Paytm Super App continued to see growing consumer engagement with the average Monthly Transacting User for the quarter that ended December 2022 at 85 million, registering a growth of 32 per cent on a yearly basis.
"Paytm's MTU (monthly transacting users), loan disbursals and devices deployed continue to surprise us positively, and we have further raised our estimates for these metrics...," Goldman Sachs said.
