The analysts wrote, “MakeMyTrip reported better than expected F4Q12 results on both the top and bottom line, driven by stronger than expected air take rates and strong core operating metrics. FY13 guidance, however, was softer than expected as the impact of a strong dollar ripples through the economy, driving jet fuel prices higher and increasing the cost of domestic and int’l vacations for Indians, reducing demand. We cut our ests and our PT goes from $25 to $19. We keep our rating at Buy, however, given compelling LT secular trends and support from MMYT’s asset value as the leading OTA in India.”
MMYT has been the subject of a number of other recent research reports. Analysts at Oppenheimer (NYSE: OPY) cut their price target on shares of Makemytrip Limited to $28.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Analysts at Morgan Stanley (NYSE: MS) upgraded shares of Makemytrip Limited to an “overweight” rating in a research note to investors on Monday, February 27th.
Shares of Makemytrip Limited traded down 7.40% during mid-day trading on Friday, hitting $14.40. Makemytrip Limited has a one year low of $15.09 and a one year high of $33.90. The company has a market cap of $532.8 million and a P/E ratio of 135.22.
Makemytrip Limited last issued its quarterly earnings data on Thursday, May 24th. The company reported $0.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.06 by $0.02. Makemytrip Limited’s revenue was up 29.2% compared to the same quarter last year. On average, analysts predict that Makemytrip Limited will post $0.00 earnings per share next quarter.
MakeMyTrip Limited is an online travel company in India. The Company conducts its business principally through its Indian subsidiary, MakeMyTrip (India) Private Limited (MMT) India.