MakeMyTrip (NASDAQ:MMYT) Releases Earnings Results, Beats Expectations By $0.43 EPS

MakeMyTrip (NASDAQ:MMYT) issued its quarterly earnings results on Monday. The technology company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.04 by $0.43, FiscalAI reports. MakeMyTrip had a net margin of 3.23% and a negative return on equity of 632.52%. The firm had revenue of $235.16 million for the quarter, compared to analysts’ expectations of $269.09 million.

MakeMyTrip Price Performance

Shares of MMYT stock opened at $42.09 on Monday. The stock has a fifty day moving average price of $50.45 and a 200 day moving average price of $50.06. The stock has a market cap of $3.96 billion, a P/E ratio of 350.75 and a beta of 1.07. MakeMyTrip has a one year low of $32.67 and a one year high of $92.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MMYT shares. Zacks Research downgraded MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. HSBC assumed coverage on MakeMyTrip in a research note on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Bank of America decreased their target price on shares of MakeMyTrip from $71.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 28th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MakeMyTrip currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.50.

MakeMyTrip Company Profile

MakeMyTrip Limited is an online travel company serving consumers in India and international travelers booking trips to and from the country. Founded in 2000 by Deep Kalra, the company operates through a portfolio of travel brands, including MakeMyTrip, Goibibo and redBus.

The company provides online and mobile booking services for domestic and international flights, hotels and other accommodations, holiday packages, trains, buses, car rentals and airport transfers. Through redBus, it also offers bus ticketing services across India and selected international markets.