MakeMyTrip (NASDAQ:MMYT – Get Free Report) posted its quarterly earnings results on Monday. The technology company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.15 by $0.38, FiscalAI reports. MakeMyTrip had a return on equity of 2,304.78% and a net margin of 4.96%.The business had revenue of $285.58 million during the quarter, compared to analysts’ expectations of $292.14 million.
MakeMyTrip Price Performance
Shares of MMYT stock opened at $56.95 on Monday. MakeMyTrip has a fifty-two week low of $32.67 and a fifty-two week high of $104.43. The stock has a market cap of $5.36 billion, a P/E ratio of 227.80 and a beta of 0.98. The business has a fifty day simple moving average of $50.48 and a 200-day simple moving average of $50.89.
Analyst Ratings Changes
Several research analysts have issued reports on the company. The Goldman Sachs Group set a $84.00 price objective on MakeMyTrip in a research report on Saturday, June 27th. Citigroup reaffirmed a “buy” rating on shares of MakeMyTrip in a research note on Tuesday, May 19th. Zacks Research upgraded shares of MakeMyTrip from a “strong sell” rating to a “strong-buy” rating in a research note on Monday, July 20th. Wall Street Zen downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Finally, HSBC assumed coverage on shares of MakeMyTrip in a research report on Thursday, July 2nd. They set a “buy” rating and a $70.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, MakeMyTrip currently has an average rating of “Buy” and an average price target of $86.75.
Institutional Investors Weigh In On MakeMyTrip
Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in MakeMyTrip by 95.9% during the fourth quarter. Janus Henderson Group PLC now owns 95,165 shares of the technology company’s stock worth $7,816,000 after acquiring an additional 46,592 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of MakeMyTrip during the 4th quarter worth approximately $387,000. EFG International AG purchased a new position in shares of MakeMyTrip during the 4th quarter worth approximately $966,000. Amundi lifted its stake in MakeMyTrip by 34.8% in the 4th quarter. Amundi now owns 549,544 shares of the technology company’s stock valued at $45,129,000 after buying an additional 141,939 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position 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 valued at $201,064,000 after acquiring an additional 371,066 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.
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.
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