Zacks: Brokerages Anticipate MakeMyTrip Limited (MMYT) Will Post Quarterly Sales of $105.97 Million

Analysts expect MakeMyTrip Limited (NASDAQ:MMYT) to report sales of $105.97 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for MakeMyTrip Limited’s earnings, with the highest sales estimate coming in at $115.00 million and the lowest estimate coming in at $96.93 million. MakeMyTrip Limited posted sales of $58.87 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 80%. The company is expected to report its next earnings report on Wednesday, July 26th.

On average, analysts expect that MakeMyTrip Limited will report full year sales of $105.97 million for the current fiscal year, with estimates ranging from $418.48 million to $453.52 million. For the next year, analysts expect that the firm will report sales of $628.69 million per share. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for MakeMyTrip Limited.

Several research analysts recently issued reports on the stock. BidaskClub cut shares of MakeMyTrip Limited from a “hold” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research cut shares of MakeMyTrip Limited from a “buy” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, ValuEngine raised shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $28.23.

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MakeMyTrip Limited (NASDAQ MMYT) traded down 0.16% during midday trading on Thursday, hitting $31.55. The stock had a trading volume of 324,605 shares. The stock’s market cap is $1.66 billion. The stock has a 50 day moving average of $32.76 and a 200 day moving average of $32.44. MakeMyTrip Limited has a 12 month low of $15.64 and a 12 month high of $40.90.

Several hedge funds have recently added to or reduced their stakes in MMYT. Levin Capital Strategies L.P. acquired a new stake in MakeMyTrip Limited during the first quarter valued at approximately $311,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in MakeMyTrip Limited during the first quarter valued at approximately $202,000. Parametric Portfolio Associates LLC raised its stake in MakeMyTrip Limited by 1,002.3% in the first quarter. Parametric Portfolio Associates LLC now owns 115,823 shares of the technology company’s stock valued at $4,007,000 after buying an additional 105,316 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in MakeMyTrip Limited by 112.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 117,183 shares of the technology company’s stock valued at $4,055,000 after buying an additional 62,033 shares in the last quarter. Finally, Sei Investments Co. raised its stake in MakeMyTrip Limited by 611.4% in the first quarter. Sei Investments Co. now owns 98,575 shares of the technology company’s stock valued at $3,411,000 after buying an additional 84,718 shares in the last quarter. Institutional investors and hedge funds own 42.12% of the company’s stock.

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.

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