Meesho Soars: UBS Lifts Price Target Amidst Strong Growth

Meesho's shares experienced a significant rally, climbing over 11% on September 22, following an increased target price from brokerage firm UBS. This upward movement marks the stock's most substantial single-day gain in three months.

UBS has reaffirmed its 'buy' recommendation, elevating its price target for Meesho to ₹260 per share, an increase from the previous ₹210. This adjustment suggests a potential 18.6% upside from its prior closing price. Furthermore, UBS has boosted its Net Merchandise Value (NMV) estimates for Meesho by 7% to 18% for the fiscal years 2029-2031.

The company's strong performance is underpinned by an 81% year-on-year surge in its seller base to 1.04 million in the first quarter. Concurrently, its buyer numbers climbed 29% to 274 million. This expansion is supported by a growing selection of stock keeping units and an increasing network of logistics partners.

Meesho reported its first-quarter earnings in July, revealing a narrowed net loss of ₹132.8 crore, down from ₹289.4 crore in the prior year. Its revenue saw a substantial 48% increase, reaching ₹3,712 crore from ₹2,503.9 crore. The company's EBITDA loss also contracted to ₹224.7 crore from ₹264.4 crore year-on-year.

The stock, which listed on December 10, 2025, has already gained 47.3% from its listing price. It has surged 115.7% from its issue price of ₹111 and is currently trading near its post-listing high.