Goldman Sachs has retained its Buy rating on Info Edge with a target price of ₹1,690, despite a weak Q1FY26 performance. The brokerage expects trends to improve from September 2025, supported by a gradual recovery in India’s IT hiring environment, which is likely to have bottomed in June.
Management has also called out better activity in July, with the real estate classifieds segment showing strong momentum after its seasonally weak June quarter. Goldman Sachs further expects margins to improve in the coming quarters as IPL-related marketing expenses, which impacted Q1, are unlikely to repeat at the same scale for the rest of FY26.
Meanwhile, BoFA Securities has maintained its Underperform rating on Info Edge with a target price of ₹1,300, following a mixed Q1FY26 performance. The company reported a 15% year-on-year revenue growth, in line with expectations, but EBITDA missed estimates by 5%, largely due to a 30% YoY increase in advertising expenses.
Operating profit margin in the Naukri segment was down 2% sequentially. Management indicated some softness in hiring demand, both in domestic non-IT sectors and in IT services/BPM. While margins could improve if revenue growth accelerates, BoFA noted that the overall demand environment remains uncertain.
