MakeMyTrip (NASDAQ:MMYT) Posts Earnings Results

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

MakeMyTrip Stock Up 3.8%

MMYT stock opened at $44.93 on Tuesday. The firm’s fifty day moving average is $44.31 and its 200 day moving average is $61.76. MakeMyTrip has a one year low of $32.67 and a one year high of $105.74. The firm has a market cap of $5.00 billion, a PE ratio of 93.60, a P/E/G ratio of 1.76 and a beta of 1.03. The company has a debt-to-equity ratio of 38.85, a quick ratio of 1.85 and a current ratio of 1.85.

Institutional Trading of MakeMyTrip

Several institutional investors have recently modified their holdings of MMYT. Royal Bank of Canada grew its position in shares of MakeMyTrip by 780.3% in the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock valued at $186,797,000 after purchasing an additional 2,016,281 shares during the period. Schroder Investment Management Group lifted its stake in shares of MakeMyTrip by 13.8% in the fourth quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after buying an additional 869,728 shares in the last quarter. Man Group plc lifted its stake in shares of MakeMyTrip by 6,434.6% in the second quarter. Man Group plc now owns 632,747 shares of the technology company’s stock worth $62,022,000 after buying an additional 623,064 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of MakeMyTrip by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock worth $201,064,000 after buying an additional 371,066 shares in the last quarter. Finally, Wasatch Advisors LP lifted its stake in shares of MakeMyTrip by 27.8% in the fourth quarter. Wasatch Advisors LP now owns 1,425,339 shares of the technology company’s stock worth $117,049,000 after buying an additional 310,072 shares in the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Saturday, April 18th. Citigroup cut their price objective 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 reiterated a “buy” rating on shares of MakeMyTrip in a research note on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MakeMyTrip in a research note on Tuesday, January 27th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

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.