What's next for Meesho shares? 48% rally in a month, up 101% from IPO price

Shares of Meesho Ltd extended their strong upward momentum for the third consecutive session on Tuesday, rising 2.58 per cent to Rs 222.80. At this level, the recently listed stock has climbed 48.24 per cent over the past month and surged 100.72 per cent from its IPO price of Rs 111. The counter made its market debut on December 10 last year.

Equirus Securities has assigned a target price of Rs 190 on the e-commerce and social commerce platform, maintaining a 'Long' rating. "Meesho's contribution margins are already 4.9 per cent in FY25, supported by logistics markups and early advertising revenues. Monetisation is layered post scale across ads, logistics, content and fintech, linked to engagement rather than ticket size. With declining fixed-cost intensity, negative WC and minimal capex, incremental scale flows through to Ebitda margins and FCF," the domestic brokerage stated.

The company is scheduled to announce its fourth-quarter (Q4 FY26) results on Wednesday, May 6, 2026.

From a technical standpoint, a few analysts have flagged stretched indicators after the recent run-up.

Ravi Singh, Chief Research Officer at Mastertrust, said, "Meesho has been on a sharp upswing, rallying over 70 per cent from its March lows. The move is supported by strong volumes, indicating robust buying interest, likely triggered by a key news catalyst. He added, "That said, after such a swift run-up, the stock appears overheated, with the RSI firmly in overbought territory -- suggesting limited upside in the near term. It is also nearing a key resistance zone around Rs 240. Investors should avoid fresh entries at current levels and consider trailing existing positions with a stop loss at Rs 202."

Echoing a similar view, AR Ramachandran, a Sebi-registered research analyst at Tips2trades, said, "Meesho stock price is bullish and also overbought on daily charts with next resistance at Rs 237. Investors should book profits at current levels as a daily close below the support of Rs 208 can trigger a fall towards Rs 163 in the near term."