CarTrade Tech gains 12% as JM Financial flags OLX subscription upside
JM Financial retained its Buy call and raised CarTrade Tech’s target price to Rs 3,150, citing OLX’s Elite Buyer programme and potential monetisation through seller tools, verification, escrow and fintech services.
JM Financial retained Buy on CarTrade Tech and raised its target price, citing OLX’s Elite Buyer subscriptions and potential seller, verification, escrow and fintech monetisation. The brokerage sees paid buyer conversion as a material revenue and profitability lever.
Why this matters
The call follows UBS's Buy initiation with a ₹4,000 target and 42% upside, and Nomura's ₹3,286 target after CarTrade Tech rose 6%, reinforcing analyst focus on its asset-light model and OLX-led growth.
Retail-company signals are accelerating, up 567,400% QoQ.