Analyst Estimates: Here's What Brokers Think Of Swiggy Limited (NSE:SWIGGY) After Its First-Quarter Report

Last week, you might have seen that Swiggy Limited (NSE:SWIGGY) released its quarterly result to the market. The early response was not positive, with shares down 3.8% to ₹392 in the past week. It was a pretty bad result overall; while revenues were in line with expectations at ₹50b, statutory losses exploded to ₹5.04 per share. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

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Taking into account the latest results, the most recent consensus for Swiggy from 22 analysts is for revenues of ₹211.5b in 2026. If met, it would imply a major 25% increase on its revenue over the past 12 months. Losses are supposed to decline, shrinking 14% from last year to ₹12.74. Yet prior to the latest earnings, the analysts had been forecasting revenues of ₹213.4b and losses of ₹12.01 per share in 2026. So it's pretty clear consensus is mixed on Swiggy after the new consensus numbers; while the analysts held their revenue numbers steady, they also administered a modest increase to per-share loss expectations.

See our latest analysis for Swiggy

As a result, there was no major change to the consensus price target of ₹439, with the analysts implicitly confirming that the business looks to be performing in line with expectations, despite higher forecast losses. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. The most optimistic Swiggy analyst has a price target of ₹740 per share, while the most pessimistic values it at ₹260. As you can see the range of estimates is wide, with the lowest valuation coming in at less than half the most bullish estimate, suggesting there are some strongly diverging views on how analysts think this business will perform. As a result it might not be a great idea to make decisions based on the consensus price target, which is after all just an average of this wide range of estimates.

These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Swiggy's past performance and to peers in the same industry. We can infer from the latest estimates that forecasts expect a continuation of Swiggy'shistorical trends, as the 34% annualised revenue growth to the end of 2026 is roughly in line with the 40% annual growth over the past year. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 19% per year. So it's pretty clear that Swiggy is forecast to grow substantially faster than its industry.

The Bottom Line

The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Swiggy. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at ₹439, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple Swiggy analysts - going out to 2028, and you can see them free on our platform here.

You can also see our analysis of Swiggy's Board and CEO remuneration and experience, and whether company insiders have been buying stock.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.