Delhivery Share Price Target: Even after raising targets, analysts at global brokerage firm Goldman Sachs have expected a substantial downside from current levels on Delhivery shares, maintaining their stance on the largecap stock.
The brokerage has maintained a ‘neutral’ rating on the Delhivery Ltd stock, indicating nearly 20 per cent downside.
Why is Goldman Sachs bearish on the stock?
The brokerage noted that the recent growth acceleration at Delhivery was driven primarily by Ecom Express, but warned of structural challenges ahead. Analysts have highlighted industry headwinds, particularly as quick-commerce players continue to eat into traditional e-commerce market share.
It further flagged concerns around yield dilution, citing the rising proportion of lightweight parcels, which in its view limits the scope for significant upside in earnings.
Analysts expect up to 17% downside
The brokerage has maintained a ‘neutral’ rating on the stock with raising its target to Rs 390, suggesting a 17 per cent fall from Rs 375.
What other analysts make of Delhivery shares
Domestic brokerage ICICI Securities has a ‘buy’ rating assigned to the Delhivery stock with a target price of Rs 600.
As of August 20, the target suggests a potential upside of 27.4 per cent in the new age stock.
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Delhivery Q1 FY26 results
In its first quarter of the current fiscal year, Delhivery reported a 67 per cent YoY jump in consolidated net profit to Rs 91 crore, while revenue grew 6 per cent to Rs 2,294 crore.
During the quarter, shipment volumes rose 14 per cent YoY to 20.8 crore parcels, and the company also completed its Rs 1,407 crore acquisition of rival Ecom Express.
Nifty 50 vs Delhivery shares
When compared with Delhivery’s stock performance, the logistics player has outperformed the headline index over the last six months and one year.
The Nifty 50 index has more than doubled over the past five years, delivering gains of 120.29 per cent.
In contrast, its performance has been more subdued in the shorter term. Over the past year, the benchmark inched up by just 1.13 per cent, while in the last six months it advanced by 9.89 per cent.
Here is how the stock performed in the past five years:
| Period | Delhivery Stock | Nifty 50 Index |
| 6 months | Up 71.98% | Up 9.89% |
| 1 year | Up 9.22% | Up 1.13% |
