The company’s total gross revenue rose 39% YoY to Rs 1,467 crore, while assets under management (AUM) stood at Rs 360 crore at the end of the quarter. Management said the performance was driven by a recovery in client participation and increased use of digital platforms. The company also highlighted ongoing investments in AI-led capabilities to enhance customer experience and improve operational efficiency.
The stock had rallied more than 10% on Friday after the results announcement, before losing steam on Monday. Shares were down over 2% at Rs 315.73 apiece today.
JM Financial on Angel One
JM Financial downgraded Angel One shares to ‘Add’ from ‘Buy’, but increased its target price by 5% to Rs 350 apiece from Rs 333 apiece. The latest target price implies an upside potential of a little over 3% from the stock’s previous closing price of Rs 322.47 apiece.
The domestic brokerage noted that the broking firm has reported strong Q4 earnings, with the beat attributable to higher revenue per order and controlled costs. It added that the stock has rallied 40% since September 2025, and it believes the share price now captures the near-term earnings momentum.
“We believe in Angel One’s medium-term diversification story and value the stock at 20x FY28E EPS of Rs 18 (against 20x FY28E EPS of Rs 17 earlier), yielding a revised target price of Rs 350,” it further said.
Motilal Oswal on Angel One
Motilal Oswal Financial Services reiterated its ‘Buy’ rating on the stock and revised its target price to Rs 400 per share, implying an upside potential of over 24% from the previous closing price.The domestic brokerage noted that the company’s management expects continued improvement in operating margins, with the broking business potentially achieving margins of over 45%. However, the burn rate for new businesses, at 250–300 basis points, is likely to persist for a few more years before scaling up and achieving breakeven.
“We raise our FY27/FY28 EPS estimates by 12%/19%, factoring in strong improvement in order run-rate as well as automation-driven efficiencies in employee costs,” it said.
Elara Securities on Angel One
Elara Securities maintained its ‘Buy’ rating on the stock, with a target price of Rs 350 per share, implying an upside potential of over 8% from the previous closing price, according to ET Now.
The brokerage expects the company’s margins to improve through FY27, supported by operating leverage. However, it may face near-term margin pressure due to IPL-related spending.
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