Shares of Meesho, an e-commerce platform, have experienced a 60% rebound from their March low of ₹125.56, closing at ₹205 recently. This surge follows a significant rally of nearly 129% from its IPO price within just seven sessions. Analysts are keenly awaiting Q4 earnings, predicting a 37% year-on-year growth in net merchandise value (NMV) and a 4% quarter-on-quarter increase. Despite this optimism, concerns about high valuations and technical indicators suggest the stock may be overheating, with the Relative Strength Index (RSI) nearing 79, indicating overbought conditions. Meesho's Q3 results showed a stark widening of consolidated net losses to ₹491 crore, up from ₹37 crore year-on-year, alongside a 32% revenue increase to ₹3,518 crore. Analysts caution that while Meesho boasts a substantial user base of 286 million monthly active users, the stock's elevated valuation compared to peers could lead to a de-rating. The brokerage BofA has set a target price of ₹170, while JM Financial initiated coverage with a 'Reduce' rating, highlighting Meesho's competitive advantages in the e-commerce space despite current challenges.