Prabhudas Lilladher has buy call on Nazara Technologies with a target price of Rs 911. The current market price of
NSE -1.71 % is Rs 674.9. Time period given by analyst is one year when Nazara Technologies Ltd. price can reach defined target.
Nazara Technologies Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 4504.59 Crore) operating in Services sector.
Nazara Technologies Ltd. key Products/Revenue Segments include Income from Entertainment & Investment Business and Other Operating Revenue for the year ending 31-Mar-2021.
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 229.70 Crore, up 24.36 % from last quarter Total Income of Rs 184.70 Crore and up 68.77 % from last year same quarter Total Income of Rs 136.10 Crore. Company reported net profit after tax of Rs 16.50 Crore in latest quarter.
The stock currently trades at EV/sales multiple of 3.6x/2.8x over FY23/FY24 estimates and provides a good entry point given valuation is now more in sync with global peers despite better growth prospects.
Promoters held 19.2 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.15 per cent, DIIs 5.49 per cent.