MakeMyTrip (NASDAQ:MMYT) Posts Quarterly Earnings Results, Beats Estimates By $0.43 EPS

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

MakeMyTrip Price Performance

MMYT opened at $42.09 on Monday. The company has a market cap of $3.96 billion, a PE ratio of 350.75 and a beta of 1.07. The business has a 50 day moving average price of $50.45 and a two-hundred day moving average price of $50.06. MakeMyTrip has a 52 week low of $32.67 and a 52 week high of $92.09.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MMYT. HSBC started coverage on shares of MakeMyTrip in a report on Thursday, July 2nd. They issued a “buy” rating and a $70.00 target price on the stock. Wall Street Zen upgraded shares of MakeMyTrip from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Research downgraded shares of MakeMyTrip from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Bank of America reduced their price objective on shares of MakeMyTrip from $71.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, September 28th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, MakeMyTrip currently has an average rating of “Moderate Buy” and an average price target of $73.50.

About MakeMyTrip

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.