MakeMyTrip (NASDAQ:MMYT) Issues Quarterly Earnings Results

MakeMyTrip (NASDAQ:MMYT) posted its quarterly earnings results on Monday. The technology company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.15 by $0.38, FiscalAI reports. MakeMyTrip had a net margin of 4.96% and a return on equity of 2,304.78%. The company had revenue of $285.58 million during the quarter, compared to analysts’ expectations of $292.14 million.

MakeMyTrip Stock Performance

Shares of MMYT opened at $56.95 on Monday. The stock has a market cap of $5.36 billion, a P/E ratio of 227.80 and a beta of 0.98. The company has a 50-day moving average of $50.48 and a two-hundred day moving average of $50.89. MakeMyTrip has a 12-month low of $32.67 and a 12-month high of $104.43.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MMYT. Schroder Investment Management Group raised its position in shares of MakeMyTrip by 13.8% during the 4th quarter. Schroder Investment Management Group now owns 7,186,704 shares of the technology company’s stock worth $590,172,000 after purchasing an additional 869,728 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in MakeMyTrip by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,448,388 shares of the technology company’s stock valued at $201,064,000 after buying an additional 371,066 shares during the last quarter. Royal Bank of Canada increased its position in MakeMyTrip by 780.3% during the fourth quarter. Royal Bank of Canada now owns 2,274,679 shares of the technology company’s stock worth $186,797,000 after buying an additional 2,016,281 shares in the last quarter. Wasatch Advisors LP increased its position in MakeMyTrip by 27.8% during 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. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of MakeMyTrip by 18.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,111,021 shares of the technology company’s stock worth $91,237,000 after acquiring an additional 174,351 shares during the last quarter. 51.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMYT. HSBC started coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price on the stock. The Goldman Sachs Group set a $84.00 price target on shares of MakeMyTrip in a report on Saturday, June 27th. Wall Street Zen downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Citigroup reissued a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Finally, Zacks Research raised MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $86.75.

MakeMyTrip Company Profile

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.