Core Insights - MakeMyTrip's stock closed at $78.63, down 4.7% from the previous trading session, underperforming the S&P 500's gain of 0.65% [1] - Over the last month, MakeMyTrip's shares increased by 5.09%, outperforming the Computer and Technology sector's decline of 1.6% and the S&P 500's gain of 1.15% [1] Earnings Performance - The upcoming earnings disclosure is expected to show an EPS of $0.43, a 10.26% increase year-over-year, with projected revenue of $313.62 million, reflecting a 17.3% rise from the same quarter last year [2] - For the full year, analysts expect earnings of $1.62 per share and revenue of $1.11 billion, representing increases of 3.85% and 13.49% respectively from the previous year [3] Analyst Estimates - Recent adjustments to analyst estimates for MakeMyTrip indicate positive sentiment regarding the company's business operations and profit generation capabilities [4] - Estimate revisions are correlated with near-term share price momentum, and the Zacks Rank system is designed to leverage this relationship [5] Zacks Rank and Valuation - MakeMyTrip currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate remaining unchanged over the past month [6] - The company is trading at a Forward P/E ratio of 50.93, which is a premium compared to its industry's Forward P/E of 14.33 [7] - The Internet - Delivery Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 110, placing it in the top 45% of over 250 industries [7][8]

I have been following MakeMyTrip Limited ( MMYT ) for some time to assess whether the recent correction presents an attractive entry point after the stock declined from the approximately $120 levels. Recent performance has beenHello everyone! My name is Sebastian Otero. I have over 25 years of experience in investing and the last 10 in entrepreneurship. I enjoy identifying undervalued stocks across both regional and global markets. My career includes serving as a Portfolio Manager at Credicorp, complemented ...

Group 1: Stock Performance - MakeMyTrip (MMYT) stock decreased by 1.72% to $83.25, underperforming the S&P 500, which fell by 0.03% [1] - Over the past month, MakeMyTrip shares increased by 20.48%, significantly outperforming the Computer and Technology sector's gain of 1.66% and the S&P 500's gain of 2.57% [1] Group 2: Earnings Expectations - Analysts anticipate MakeMyTrip to report earnings of $0.43 per share, reflecting a year-over-year growth of 10.26% [2] - The consensus estimate for quarterly revenue is $313.62 million, representing a 17.3% increase from the previous year [2] Group 3: Full Year Projections - For the full year, earnings are projected at $1.62 per share and revenue at $1.11 billion, indicating increases of 3.85% and 13.49% respectively from the prior year [3] - Recent changes in analyst estimates suggest a favorable outlook on MakeMyTrip's business health and profitability [3] Group 4: Valuation Metrics - MakeMyTrip has a Forward P/E ratio of 52.29, which is significantly higher than the industry average Forward P/E of 14.39, indicating a premium valuation [6] - The Internet - Delivery Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 202, placing it in the bottom 19% of over 250 industries [6] Group 5: Analyst Ratings - MakeMyTrip currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate remaining unchanged over the last 30 days [5] - The Zacks Rank system has a strong track record, with stocks rated 1 (Strong Buy) delivering an average annual return of +25% since 1988 [5]

Company Overview - MakeMyTrip (MMYT) shares increased by 5.2% to close at $82.6, with notable trading volume compared to typical sessions [1] - The stock has gained 3.2% over the past four weeks, driven by growth in international air ticketing and hotel revenues [1] Financial Performance Expectations - The company is expected to report quarterly earnings of $0.43 per share, reflecting a year-over-year increase of 10.3% [2] - Revenues are anticipated to reach $313.62 million, representing a 17.3% increase from the same quarter last year [2] Earnings Estimate Trends - The consensus EPS estimate for MakeMyTrip has remained unchanged over the last 30 days, indicating a potential lack of momentum in stock price movement [3] - Trends in earnings estimate revisions are correlated with near-term stock price movements, suggesting the need to monitor future revisions closely [3] Industry Context - MakeMyTrip is part of the Zacks Internet - Delivery Services industry, which includes other companies like QuinStreet (QNST) [4] - QuinStreet's consensus EPS estimate has also remained unchanged, with a year-over-year change of 5% [5]

Core Insights - The cancellation of IndiGo flights has led to a surge in demand for bus travel, with private operators and online ticketing platforms capitalizing on the situation to attract more users [1][4]. Group 1: Market Response - Bookings at redBus increased by 17% from December 5 to 8, following flight cancellations from December 1 to 4, with over 30% surge in bookings across 70+ routes in major cities [2][3]. - Demand for short-haul routes, typically dominated by flights, has risen significantly, particularly in Andhra Pradesh and Telangana, indicating a shift in traveler preferences due to airline disruptions [3][4]. - Search volumes for major metro routes increased by 36%, reflecting heightened travel anxiety among users [3]. Group 2: Company Performance - Leafybus, an electric bus operator, reported an increase in occupancy from 90% to 99% due to the rise in demand [6]. - AbhiBus noted a 10-15% increase in bookings across key intercity routes in recent days [7][8]. - FlixBus India experienced a slight increase in demand but is prepared to add capacity as needed [7]. Group 3: Pricing Dynamics - Bus operators have implemented dynamic pricing, with an average fare increase of 25% on high-demand routes; Leafybus raised its ticket price from ₹500 to ₹750 [9]. - Operators are focusing on maintaining customer service and punctuality to retain travelers even after the flight disruptions end [10][11]. Group 4: Industry Growth - The intercity bus ecosystem in India has seen significant growth, with private bus operators selling 140 million seats from April to September, up from 112 million the previous year [11]. - Gross ticket value rose from ₹10,718 crore in 2024 to ₹13,216 crore this year, indicating a robust market expansion [12]. - The number of active private bus operators increased by over 1,000 to 6,073, highlighting the growing competitiveness in the sector [12].

MakeMyTrip (MMYT) closed the most recent trading day at $71.39, moving +1.54% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.54%. On the other hand, the Dow registered a gain of 0.61%, and the technology-centric Nasdaq increased by 0.65%. Shares of the online travel company witnessed a loss of 13.11% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 1.42%, and the S&P 500's loss of 0.8%.Analysts ...

Market Overview - The total market capitalization of new-age tech companies decreased to $109.15 billion from $110.93 billion over the past week [2] - A mixed performance was observed among 42 new-age tech companies, with 26 companies experiencing share declines between 0.17% and over 15%, while 16 companies saw gains ranging from 0.01% to over 33% [1][8] Company Performance - ixigo reported a net loss of INR 3.5 crore for Q2, down from a profit of INR 13.1 crore in the same quarter last year, primarily due to one-time ESOP expenses of INR 26.9 crore [21] - Operating revenue for ixigo increased by 36% year-over-year to INR 282.7 crore, but showed a sequential decline of 10% from INR 314.5 crore [21] - CarTrade's shares rose by 18.44% after the company reported a net profit of INR 64.1 crore for Q2, more than doubling from INR 30.7 crore a year ago, with operating revenue increasing by 25% year-over-year to INR 193.4 crore [18][19] IPO and Market Sentiment - Lenskart's IPO opened with a 110% subscription on the first day, despite concerns over high valuations [16] - Fintech unicorn Groww filed for a INR 6,600 crore IPO, while Pine Labs filed for a fresh issue of INR 2,080 crore [16][17] - The Indian equities market saw a decline, with Sensex and Nifty 50 both dipping by 0.3%, attributed to profit booking and regulatory changes proposed by SEBI [14]

Core Viewpoint - MakeMyTrip Ltd (MMYT) continues to show solid growth, with no changes to its long-term drivers as travel demand remains strong [1] Group 1: Company Performance - The company has been previously rated as a buy due to its consistent growth and the ongoing demand for travel [1] - MMYT is actively engaged in managing its capital and investment strategies, indicating a focus on optimizing performance [1] Group 2: Investment Strategy - The investment approach includes a combination of fundamental, technical, and momentum investing, highlighting a diversified strategy to enhance investment outcomes [1] - The author aims to track investment ideas and connect with like-minded investors through the platform, suggesting a community-driven investment philosophy [1]

Core Insights - MakeMyTrip reported quarterly earnings of $0.37 per share, missing the Zacks Consensus Estimate of $0.45 per share, representing an earnings surprise of -17.78% [1] - The company posted revenues of $229.34 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 13.22% [2] - MakeMyTrip shares have declined approximately 19.9% since the beginning of the year, contrasting with the S&P 500's gain of 16.9% [3] Earnings Performance - Over the last four quarters, MakeMyTrip has surpassed consensus EPS estimates only once [2] - The current consensus EPS estimate for the upcoming quarter is $0.59, with expected revenues of $337.09 million, and for the current fiscal year, the estimate is $2.16 on revenues of $1.19 billion [7] Industry Outlook - The Internet - Delivery Services industry, to which MakeMyTrip belongs, is currently in the top 11% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact MakeMyTrip's stock performance [5]

Financial Data and Key Metrics Changes - The adjusted operating profit for Q2 was $44.2 million, reflecting an 18% year-on-year growth [5][32] - The company reported a loss of $5.7 million for the quarter compared to a profit of $17.9 million in the same quarter last year, primarily due to interest and foreign exchange costs [31][32] - The adjusted margin growth for models and packages accelerated from 16.3% in Q1 to 21.6% in Q2 [29] Business Line Data and Key Metrics Changes - The international air ticketing revenue grew by over 29.6% year-on-year in constant currency terms, significantly outpacing industry growth [6] - The accommodation business, including hotels and holiday packages, delivered an 18% volume growth year-on-year [15] - The bus ticketing business saw strong growth, with all regions growing over 20% year-on-year [22] Market Data and Key Metrics Changes - The international business now contributes 28% to overall revenue, up from 25% during the same period last year [7] - Analysts estimate that recent fiscal and monetary measures could unlock an additional consumer spending of $3 billion to $3.5 billion [7] - The domestic air market experienced a decline of 3% year-on-year due to supply constraints [28] Company Strategy and Development Direction - The company is focused on enhancing customer experience through AI, launching an AI-powered travel assistant, Myra, to improve user engagement [8][10] - The strategy includes expanding the international air segment, which is seen as a significant growth opportunity [6] - The company aims to leverage its diversified product portfolio to drive growth across various travel segments [5][37] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of travel demand, particularly in the international air segment and domestic tourism [5][6] - The company anticipates that the reduction in GST rates and increased disposable income will boost travel demand [7][37] - Despite short-term challenges in the domestic air market, the long-term outlook for the Indian aviation sector remains robust [14] Other Important Information - The company has recently appointed Deepak Bora as the new Group CFO [26] - The company completed the repurchase and cancellation of 34.4 million Class B shares as part of its capital management strategy [30] Q&A Session Summary Question: Air capacity issue and demand outlook for December - Management indicated that domestic air market daily departures are expected to return to about 3,200, similar to the same period last year, with constraints still remaining [41][43] Question: Impact of GST benefits on December bookings - Management noted that while early signs are positive, travel demand typically picks up after Diwali, and they remain optimistic about the impact of GST reductions on consumer spending [45][46] Question: Increase in marketing expenses - Management clarified that the increase in marketing expenses is aligned with improved segment margins and is not solely due to competitive intensity [49][50] Question: Buyback program status - Management confirmed that no buybacks occurred in the current quarter but outlined changes to the buyback program, extending it and increasing the budget [53][54] Question: Growth outlook despite strong base in March - Management remains optimistic about achieving growth in the twenties for the full fiscal year, despite challenges in the first half [64][66] Question: Competitive landscape and new entrants - Management welcomed increased investment interest in the travel industry and expressed confidence in maintaining market leadership despite competition [68][70] Question: Clarification on growth guidance - Management clarified that the 20% growth guidance refers to adjusted margin growth across segments, not gross bookings [80][82] Question: Observations on hotel bookings and revenue - Management highlighted that adjusted margin growth in the standalone hotel business was strong at 23.1%, despite foreign currency impacts [83]