Meesho shares jump 6% as content commerce NMV grows 152% in Q2. Buy, sell or hold the stock?

Shares of Meesho rallied as much as 6% to a day’s high of Rs 240 on the BSE on Tuesday after the company’s second-quarter business update showed strong momentum in its content commerce business. Content Commerce net merchandise value (NMV) grew 152% year-on-year between August 1, 2025 and August 31, 2026.

Content commerce means selling products through content created by people, rather than solely through traditional advertising.

Meesho said 1.6 lakh active creators participated in Content Commerce during the period, with nano creators (those with fewer than 10,000 followers) accounting for 90% of the active creator base. About 81% of active creators were from non-metro India, while Tier-3 and Tier-4 markets contributed 66% of Content Commerce orders.


Homemakers accounted for 40% of Meesho’s active Content Commerce creators, while young graduates made up another 30%, or around 50,000 creators. Around 78% of active homemaker creators were from non-metro India.

The company also said 25% of its active creators were first-time creators, pointing to the expansion of Content Commerce beyond established influencers. “We are seeing this translate into meaningful scale, with Content Commerce NMV growing 152% year-on-year, supported by 1.6 lakh active creators over the last 12 months,” Nikita Dawda, General Manager, Content Commerce, Meesho, said in a regulatory filing.

Buy, sell or hold Meesho shares?

Last week, international brokerage firm Nomura initiated coverage with a Reduce call and a target price of Rs 167.

Nomura said competition for Meesho could intensify from horizontal e-commerce platforms and quick commerce (QC), even as the company retains an early-mover advantage. The brokerage expects Amazon and Flipkart to step up their presence in QC and value commerce (VC), which are growing faster than overall e-commerce. It pointed to Flipkart’s relaunch of Shopsy in May 2026 with a gamified approach focused on Gen Z and higher user engagement as a step in that direction.

Days earlier, UBS hiked the target price by 24% to Rs 260. UBS has raised its FY29-31 NMV estimates by 7-18%, with a similar increase in contribution profit estimates and a 20-40% increase in EBITDA estimates. The higher NMV forecasts reflect the continued flywheel effect from seller and buyer growth, with sellers increasing 81% YoY to 1.04 million in Q1FY27 and buyers rising 29% YoY to 274 million. This has been accompanied by a rapid expansion in SKUs and logistics partners.

Jefferies has reiterated its Buy call with a target price of Rs 240, an upside of 10% from current levels. The investment bank expects Meesho’s contribution margin (CM) to improve from around 4.6% currently to 5.5% over the next 12 months and further to 8.5% by FY31. The brokerage expects the improvement to be driven by higher logistics margins, increasing monetisation of advertising and operating leverage.

Despite these opportunities, management remains focused on growth and is not actively pursuing broad-based seller monetisation, Jefferies said. The company believes its platform penetration remains well below its potential.

Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.