MakeMyTrip Limited (MMYT) Releases Earnings Results, Beats Expectations By $0.27 EPS

MakeMyTrip Limited (NASDAQ:MMYT) issued its earnings results on Wednesday, November 1st. The technology company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.27, reports. The business had revenue of $139.20 million during the quarter, compared to analyst estimates of $110.72 million. MakeMyTrip Limited had a negative return on equity of 12.74% and a negative net margin of 31.73%. The firm’s revenue was up 161.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.61) EPS.

MakeMyTrip Limited (MMYT) traded down $0.20 on Friday, reaching $26.90. The company had a trading volume of 229,200 shares, compared to its average volume of 753,297. MakeMyTrip Limited has a 1-year low of $22.05 and a 1-year high of $40.90.

An institutional investor recently raised its position in MakeMyTrip Limited stock. State Street Corp raised its holdings in shares of MakeMyTrip Limited (NASDAQ:MMYT) by 17.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,868 shares of the technology company’s stock after buying an additional 4,966 shares during the period. State Street Corp owned about 0.06% of MakeMyTrip Limited worth $1,136,000 at the end of the most recent reporting period. 43.57% of the stock is owned by hedge funds and other institutional investors.

MMYT has been the subject of a number of analyst reports. ValuEngine downgraded MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. TheStreet upgraded MakeMyTrip Limited from a “d” rating to a “c-” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $31.50 price objective on shares of MakeMyTrip Limited in a research note on Friday, October 13th. Zacks Investment Research downgraded MakeMyTrip Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, UBS AG downgraded MakeMyTrip Limited from a “buy” rating to a “sell” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, September 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.10.

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MakeMyTrip Limited Company Profile

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.

Earnings History for MakeMyTrip Limited (NASDAQ:MMYT)

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