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

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

MakeMyTrip Stock Performance

Shares of MMYT stock opened at $42.09 on Monday. The firm has a market cap of $3.96 billion, a P/E ratio of 350.75 and a beta of 1.07. The firm’s 50 day moving average price is $50.45 and its 200-day moving average price is $50.06. MakeMyTrip has a one year low of $32.67 and a one year high of $92.09.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MMYT shares. HSBC initiated coverage on MakeMyTrip in a research note on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price for the company. Zacks Research cut MakeMyTrip from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Wall Street Zen raised MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Bank of America reduced their price objective on MakeMyTrip from $71.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, September 28th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently 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.