MakeMyTrip (NASDAQ:MMYT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

MakeMyTrip (NASDAQ:MMYT) posted its quarterly earnings results on Tuesday. The technology company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01, FiscalAI reports. The firm had revenue of $250.12 million for the quarter, compared to the consensus estimate of $275.49 million. MakeMyTrip had a net margin of 5.46% and a return on equity of 48.06%.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $44.93 on Tuesday. The company has a debt-to-equity ratio of 38.85, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s 50-day moving average is $44.31 and its two-hundred day moving average is $61.76. MakeMyTrip has a 12 month low of $32.67 and a 12 month high of $105.74. The company has a market capitalization of $5.00 billion, a PE ratio of 93.60, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MMYT shares. Weiss Ratings reissued a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Citigroup decreased their price target on shares of MakeMyTrip from $96.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

Hedge Funds Weigh In On MakeMyTrip

A number of institutional investors have recently bought and sold shares of MMYT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MakeMyTrip by 11.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,755 shares of the technology company’s stock worth $1,642,000 after purchasing an additional 1,721 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of MakeMyTrip by 24.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 3,424 shares of the technology company’s stock valued at $336,000 after acquiring an additional 679 shares during the period. Nebula Research & Development LLC raised its stake in shares of MakeMyTrip by 9.2% in the 2nd quarter. Nebula Research & Development LLC now owns 15,890 shares of the technology company’s stock valued at $1,558,000 after acquiring an additional 1,345 shares during the period. Sei Investments Co. raised its stake in shares of MakeMyTrip by 14.9% in the 2nd quarter. Sei Investments Co. now owns 520,853 shares of the technology company’s stock valued at $51,054,000 after acquiring an additional 67,367 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of MakeMyTrip by 108.5% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 201,101 shares of the technology company’s stock valued at $19,712,000 after acquiring an additional 104,641 shares during the period. 51.89% of the stock is owned by hedge funds and other institutional investors.

About MakeMyTrip

MakeMyTrip Inc is an online travel company that provides a comprehensive suite of travel products and services through its website and mobile app platform. The company’s offerings include air ticketing, hotel reservations, holiday packages, rail and bus ticket bookings, ancillary travel services such as travel insurance and visa assistance, and corporate travel management solutions. By leveraging technology-driven platforms, MakeMyTrip aims to deliver convenience, competitive pricing, and a seamless booking experience for both retail and business customers.

Founded in June 2000 by Deep Kalra, MakeMyTrip has grown to become one of India’s leading travel technology firms.