MakeMyTrip Limited (NASDAQ:MMYT) posted its earnings results on Wednesday. The technology company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.47) by $0.14, Morningstar.com reports. The firm had revenue of $141.21 million for the quarter, compared to analysts’ expectations of $110.67 million. MakeMyTrip Limited had a negative return on equity of 25.66% and a negative net margin of 31.64%. The firm’s revenue for the quarter was up 139.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.73) earnings per share.
MakeMyTrip Limited (MMYT) traded up 5.35% during mid-day trading on Friday, reaching $29.55. The company’s stock had a trading volume of 363,308 shares. The firm’s 50 day moving average price is $32.65 and its 200 day moving average price is $33.88. The firm’s market capitalization is $2.98 billion. MakeMyTrip Limited has a 52 week low of $17.71 and a 52 week high of $40.90.
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A number of analysts have commented on MMYT shares. Zacks Investment Research upgraded MakeMyTrip Limited from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Saturday, May 6th. ValuEngine upgraded MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub downgraded MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. TheStreet upgraded MakeMyTrip Limited from a “d” rating to a “c-” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating and boosted their target price for the stock from $19.80 to $32.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.30.
Large investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. bought a new stake in MakeMyTrip Limited during the first quarter valued at $80,600,000. JHL Capital Group LLC bought a new stake in MakeMyTrip Limited during the first quarter valued at $43,250,000. Franklin Resources Inc. raised its stake in MakeMyTrip Limited by 110.7% in the second quarter. Franklin Resources Inc. now owns 1,930,468 shares of the technology company’s stock valued at $64,753,000 after buying an additional 1,014,468 shares in the last quarter. William Blair Investment Management LLC bought a new stake in MakeMyTrip Limited during the second quarter valued at $25,187,000. Finally, Horseman Capital Management Ltd bought a new stake in MakeMyTrip Limited during the first quarter valued at $22,715,000. 41.03% of the stock is owned by institutional investors and hedge funds.
About MakeMyTrip Limited
MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.
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