PB Fintech shares: Policybazaar parent surges 4% post analyst meet; here's why | Target prices
Haitong International slashed its target to Rs 1,560 from Rs 2,080. Jefferies suggested 'Buy' with a target of Rs 1,540 from Rs 2,050 earlier. On Tuesday, PB Fintech shares rose 4.3 per cent to hit a high of Rs 1,262 apiece.
- Sep 25, 2026,
- Updated Sep 25, 2026 9:46 AM IST
Shares of PB Fintech Ltd climbed 4 per cent in Friday's trade on value buying after India's largest online insurance platform hosted an analyst meet. A host of brokerages subsequently slashed their target prices, though they continue to see limited downside on the counter following the stock's 32 per cent slide on Thursday.
Haitong International slashed its target to Rs 1,560 from Rs 2,080. Jefferies suggested 'Buy' with a target of Rs 1,540 from Rs 2,050 earlier. On Tuesday, PB Fintech shares rose 4.3 per cent to hit a high of Rs 1,262 apiece.
"We have kept earnings unchanged, but cut Policybazaar's valuation multiple by 30 per cent to 18 times FY30 Ebitda due to uncertainty w.r.t. take rates. Price targets falls to Rs 1,540," Jefferies said.
Foreign brokerage Nomura India said PB Fintech management’s concall on Thursday focused on the need to bring about changes in its business model. The management, it said, indicated that it will be evolving from the “growth at any cost” mindset to a “rationalised growth” mindset, given the changes to the distribution structure by the regulator.
"Though it has indicated no mass layoffs or radical reactions, the company plans to trim marketing expenses and slow down hiring," Nomura said as it suggested 'Neutral' rating on the stock.
BofA Securities also suggested 'Neutral' and a target of Rs 1,410. Distribution is likely unattractive for larger agents, it said.
For PB Fintech, it said the impact on Policybazaar’s life and term business is manageable, adding that it sees room for Policybazaar to gain market share across categories.
HSBC has downgraded the stock to hold, with a fresh target of Rs 1,150 from Rs 2,100 earlier.
MOFSL said of IRDAI's proposals are implemented as proposed, the changes could result in a potential 30 per cent hit to FY28 core online insurance revenue.
"If we cut our FY28 core online insurance revenue estimates by 30 per cent, without factoring in any adjustments to expenses or additional revenue streams highlighted by the company, our earnings estimates would decline by 46 per cent. On these earnings, the stock would trade at 73 times. Assuming the company is able to cut down its employee and advertisement costs by 20 per cent compared to current assumptions, the earnings cut would be about 30 per cent and the stock would trade at 57 times," MOFSL said.
Until the final regulations are announced, MOFSL said the stock would continue to underperform. "We reiterate our Neutral rating with a revised target of Rs 1,150, based on 50 times average of the current and worst-case FY28 EPS," it said.
Shares of PB Fintech Ltd climbed 4 per cent in Friday's trade on value buying after India's largest online insurance platform hosted an analyst meet. A host of brokerages subsequently slashed their target prices, though they continue to see limited downside on the counter following the stock's 32 per cent slide on Thursday.
Haitong International slashed its target to Rs 1,560 from Rs 2,080. Jefferies suggested 'Buy' with a target of Rs 1,540 from Rs 2,050 earlier. On Tuesday, PB Fintech shares rose 4.3 per cent to hit a high of Rs 1,262 apiece.
"We have kept earnings unchanged, but cut Policybazaar's valuation multiple by 30 per cent to 18 times FY30 Ebitda due to uncertainty w.r.t. take rates. Price targets falls to Rs 1,540," Jefferies said.
Foreign brokerage Nomura India said PB Fintech management’s concall on Thursday focused on the need to bring about changes in its business model. The management, it said, indicated that it will be evolving from the “growth at any cost” mindset to a “rationalised growth” mindset, given the changes to the distribution structure by the regulator.
"Though it has indicated no mass layoffs or radical reactions, the company plans to trim marketing expenses and slow down hiring," Nomura said as it suggested 'Neutral' rating on the stock.
BofA Securities also suggested 'Neutral' and a target of Rs 1,410. Distribution is likely unattractive for larger agents, it said.
For PB Fintech, it said the impact on Policybazaar’s life and term business is manageable, adding that it sees room for Policybazaar to gain market share across categories.
HSBC has downgraded the stock to hold, with a fresh target of Rs 1,150 from Rs 2,100 earlier.
MOFSL said of IRDAI's proposals are implemented as proposed, the changes could result in a potential 30 per cent hit to FY28 core online insurance revenue.
"If we cut our FY28 core online insurance revenue estimates by 30 per cent, without factoring in any adjustments to expenses or additional revenue streams highlighted by the company, our earnings estimates would decline by 46 per cent. On these earnings, the stock would trade at 73 times. Assuming the company is able to cut down its employee and advertisement costs by 20 per cent compared to current assumptions, the earnings cut would be about 30 per cent and the stock would trade at 57 times," MOFSL said.
Until the final regulations are announced, MOFSL said the stock would continue to underperform. "We reiterate our Neutral rating with a revised target of Rs 1,150, based on 50 times average of the current and worst-case FY28 EPS," it said.