MakeMyTrip (NASDAQ:MMYT) Issues Earnings Results, Beats Expectations By $0.09 EPS

MakeMyTrip (NASDAQ:MMYT) issued its earnings results on Wednesday. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09, FiscalAI reports. The company had revenue of $295.70 million for the quarter, compared to analysts’ expectations of $306.29 million. MakeMyTrip had a net margin of 7.57% and a return on equity of 23.82%.

MakeMyTrip Stock Performance

Shares of MMYT opened at $74.59 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 38.85. The firm has a market cap of $8.30 billion, a PE ratio of 116.55 and a beta of 0.66. MakeMyTrip has a 12 month low of $69.69 and a 12 month high of $120.72. The stock has a fifty day moving average price of $78.04 and a 200-day moving average price of $88.35.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC increased its holdings in shares of MakeMyTrip by 4.6% during the third quarter. GeoWealth Management LLC now owns 3,861 shares of the technology company’s stock valued at $361,000 after acquiring an additional 169 shares in the last quarter. Osaic Holdings Inc. grew its position in MakeMyTrip by 10.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,028 shares of the technology company’s stock worth $199,000 after purchasing an additional 188 shares during the last quarter. Parallel Advisors LLC increased its stake in MakeMyTrip by 244.8% during the 3rd quarter. Parallel Advisors LLC now owns 400 shares of the technology company’s stock valued at $37,000 after purchasing an additional 284 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of MakeMyTrip by 3.5% in the third quarter. Vident Advisory LLC now owns 17,916 shares of the technology company’s stock worth $1,677,000 after buying an additional 609 shares during the last quarter. Finally, Creative Planning lifted its stake in shares of MakeMyTrip by 25.7% during the third quarter. Creative Planning now owns 3,038 shares of the technology company’s stock worth $284,000 after buying an additional 621 shares during the period. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MMYT. Morgan Stanley reaffirmed an “overweight” rating on shares of MakeMyTrip in a research report on Wednesday, December 31st. Bank of America lowered their target price on MakeMyTrip from $115.00 to $113.00 and set a “buy” rating for the company in a report on Wednesday, December 24th. Weiss Ratings began coverage on MakeMyTrip in a report on Thursday, October 30th. They issued a “hold (c)” rating on the stock. Finally, Wall Street Zen lowered MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.33.

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.