MakeMyTrip Limited (MMYT) Expected to Announce Quarterly Sales of $105.97 Million
Equities analysts expect MakeMyTrip Limited (NASDAQ:MMYT) to report $105.97 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for MakeMyTrip Limited’s earnings. The lowest sales estimate is $96.93 million and the highest is $115.00 million. MakeMyTrip Limited posted sales of $58.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 80%. The company is expected to issue its next quarterly 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 year, with estimates ranging from $418.48 million to $453.52 million. For the next fiscal year, analysts anticipate that the company will report sales of $628.69 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MakeMyTrip Limited.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of MakeMyTrip Limited from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Saturday, May 6th. ValuEngine upgraded shares of MakeMyTrip Limited from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered shares of MakeMyTrip Limited from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.23.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in MMYT. Mirae Asset Global Investments Co. Ltd. purchased a new position in MakeMyTrip Limited during the first quarter valued at about $202,000. Credit Suisse AG purchased a new position in MakeMyTrip Limited during the first quarter valued at about $242,000. KCG Holdings Inc. purchased a new position in MakeMyTrip Limited during the first quarter valued at about $280,000. Levin Capital Strategies L.P. purchased a new position in MakeMyTrip Limited during the first quarter valued at about $311,000. Finally, Cadence Capital Management LLC purchased a new position in MakeMyTrip Limited during the first quarter valued at about $368,000. 42.12% of the stock is owned by institutional investors and hedge funds.
MakeMyTrip Limited (MMYT) opened at 33.40 on Thursday. The stock has a 50 day moving average of $32.76 and a 200-day moving average of $32.44. The stock’s market cap is $2.61 billion. MakeMyTrip Limited has a 12 month low of $15.39 and a 12 month high of $40.90.
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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