Investment Overview - MMYT is an online travel agency primarily operating in India, contributing 95% of FY24 revenue, with air tickets at 39%, hotels & packages at 43%, and other revenue at 18% [1] - MMYT holds a dominant market position in India with a 60% market share [1] Growth Trends - Domestic travel demand is strong, and international tourism is expected to follow suit as the population becomes wealthier, with MMYT reporting outbound travel growth exceeding domestic travel growth [2] - MMYT's gross bookings increased by 17% year-over-year to $2.38 billion, with revenue growing 25% to $244 million [5] - The air segment is anticipated to see growth acceleration due to improved domestic supply, completion of elections, and easing weather conditions [5] Financial Performance - MMYT's international hotels & packages segment saw an impressive revenue growth of 88% in 1Q25, significantly outpacing overall segment growth [12] - The company achieved a cash EBITDA margin of 17.6% in 1Q25, marking an all-time high since profitability began in 2Q22 [13] - Management expects adjusted EBIT margin to reach 1.8% to 2% over the medium term, with a historical trend of margin expansion observed [13] Market Position and Valuation - MMYT is projected to maintain strong revenue growth at 25% for FY25 and FY26, outperforming peers like Booking Holdings and Expedia Group [8] - The company trades at a premium valuation of 9.2x forward revenue compared to the peer average of 4.2x, justified by its growth performance and market dominance [8] Conclusion - The long-term growth outlook for MMYT is robust, supported by a strong domestic travel industry and increasing international travel demand [10] - The expected target price for MMYT is set at $111, reflecting confidence in its growth trajectory [14]

MakeMyTrip (MMYT) came out with quarterly earnings of $0.39 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 95%. A quarter ago, it was expected that this online travel company would post earnings of $0.26 per share when it actually produced earnings of $0.38, delivering a surprise of 46.15%. Over the last four quarters, the ...

Revenue Growth - Revenue for Q1 FY2025 increased by 29.4% YoY to $254.5 million, with a constant currency growth of 31.4%[7] - Total revenue for the three months ended June 30, 2024, increased by 29.2% to $254.5 million from $196.7 million in the same period of 2023[43] - Consolidated revenue for the three months ended June 30, 2024, increased to $254.51 million, up from $196.73 million in 2023, representing a growth of 29.4%[49] Segment Performance - Air ticketing revenue rose by 25.4% YoY to $57.5 million, while adjusted margin for air ticketing increased by 19.6% YoY to $89.1 million[9][10] - Hotels and packages revenue grew by 27.5% YoY to $146.8 million, with adjusted margin increasing by 25.4% YoY to $107.3 million[10] - Bus ticketing revenue increased by 17.2% YoY to $29.2 million, and adjusted margin rose by 18.6% YoY to $32.4 million[11][12] - Revenue from other services surged by 95.2% YoY to $20.9 million, with adjusted margin increasing by 36.6% YoY to $14.9 million[13] Profitability - Adjusted operating profit improved to $39.1 million, reflecting a YoY increase of $9.0 million[6] - Adjusted net profit rose to $44.5 million, marking a YoY improvement of $10.9 million[6] - Profit for the quarter ended June 30, 2024, was $21.0 million, an increase from $18.6 million in the same quarter of 2023[22] - Adjusted Net Profit was $44.5 million for the quarter ended June 30, 2024, compared to $33.6 million in the same quarter of 2023[22] - Adjusted Operating Profit was $39.1 million for the quarter ended June 30, 2024, compared to $30.1 million in the same quarter of 2023[19] Expenses - Service costs increased by 42.8% YoY to $85.1 million, driven by robust travel demand[15] - Personnel expenses rose by 12.9% YoY to $38.2 million, primarily due to annual wage increases[16] - Marketing and sales promotion expenses increased by 31.0% to $40.1 million for the quarter ended June 30, 2024, compared to $30.6 million for the same period in 2023[17] - Other operating expenses increased by 20.3% to $56.7 million for the quarter ended June 30, 2024, up from $47.1 million in the prior year[17] - Customer inducement costs recorded as a reduction of revenue rose to $74.2 million in the quarter ended June 30, 2024, from $61.2 million in the same quarter of 2023[17] Financial Position - Total assets as of June 30, 2024, were $1.73 billion, up from $1.66 billion as of March 31, 2024[40] - Cash and cash equivalents at the end of the period increased to $348.8 million from $327.1 million at the beginning of the period[47] - The company’s accumulated deficit decreased to $999.5 million as of June 30, 2024, from $1.02 billion as of March 31, 2024[40] - The company’s total equity attributable to owners increased to $1.14 billion from $1.11 billion over the same period[40] - Loans and borrowings increased slightly to $224.6 million as of June 30, 2024, from $221.6 million as of March 31, 2024[40] Market Outlook - The company anticipates continued growth in India's travel and tourism sector, driven by macroeconomic factors[5] Earnings Per Share - Diluted earnings per share increased to $0.19 for the quarter ended June 30, 2024, from $0.17 in the same quarter of 2023[23] - The adjusted diluted earnings per share improved to $0.39 in 2024 from $0.30 in 2023, reflecting a growth of 30%[51]

Group 1 - MakeMyTrip (MMYT) has returned approximately 92.1% year-to-date, significantly outperforming the average gain of 29.2% in the Computer and Technology sector [7] - The Zacks Consensus Estimate for MMYT's full-year earnings has increased by 12.5% over the past three months, indicating improved analyst sentiment and a more positive earnings outlook [3] - MakeMyTrip is classified under the Internet - Delivery Services industry, which is currently ranked 29 in the Zacks Industry Rank, with stocks in this group gaining about 27.3% year-to-date, showing that MMYT is performing better than its peers [8] Group 2 - Ouster, Inc. has seen a consensus EPS estimate increase of 33.9% over the past three months and currently holds a Zacks Rank of 2 (Buy) [4][6] - The Electronics - Miscellaneous Components industry, to which Ouster belongs, is ranked 182 and has experienced a gain of 12.1% so far this year [5] - Both MakeMyTrip and Ouster, Inc. are highlighted as stocks to watch for continued solid performance in the Computer and Technology sector [9]

Company Performance - MakeMyTrip shares have gained 6.84% over the past month, lagging behind the Computer and Technology sector's gain of 8.41% and outperforming the S&P 500's gain of 4.08% [1] - In the latest trading session, MakeMyTrip closed at $86.66, marking a +0.83% move from the previous day, outpacing the S&P 500's 0.1% gain [6] - The company is forecasted to report an EPS of $0.38, showcasing a 26.67% upward movement from the corresponding quarter of the prior year, with a revenue estimate of $230.58 million, indicating a 17.21% increase compared to the same quarter of the previous year [7] Analyst Estimates and Ratings - Recent changes to analyst estimates for MakeMyTrip indicate a favorable outlook on the company's business health and profitability [2] - MakeMyTrip currently possesses a Zacks Rank of 2 (Buy), with the Zacks Consensus EPS estimate remaining unchanged over the last 30 days [3] - The Zacks Rank system has a track record of superior performance, with 1 stocks contributing an average annual return of +25% since 1988 [3] Valuation Metrics - MakeMyTrip has a PEG ratio of 4.6, compared to the industry average PEG ratio of 2.55 [4] - The company has a Forward P/E ratio of 53.22, representing a premium compared to its industry's average Forward P/E of 22.16 [9] Industry Context - The Internet - Delivery Services industry, part of the Computer and Technology sector, carries a Zacks Industry Rank of 27, placing it within the top 11% of over 250 industries [10] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [5] Full Year Projections - For the full year, the Zacks Consensus Estimates project earnings of $1.62 per share and a revenue of $926.3 million, demonstrating changes of +32.79% and +27.21%, respectively, from the preceding year [12]

According to our latest data, MMYT has moved about 76.8% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 25.7%. This means that MakeMyTrip is performing better than its sector in terms of year-to-date returns. One other Computer and Technology stock that has outperformed the sector so far this year is Monday.com (MNDY) . The stock is up 25.8% year-to-date. In contrast, Monday.com falls under the Internet - Software industry. Currently, this industry has ...

Company Performance - MakeMyTrip's stock has increased by 7.99% over the past month, outperforming the Computer and Technology sector's gain of 5.94% and the S&P 500's gain of 3.22% [1] - The company is projected to report earnings of $1.62 per share and revenue of $926.3 million for the full year, reflecting increases of +32.79% and +18.37% from the previous year [2] - The upcoming earnings disclosure is expected to show an EPS of $0.38, representing a 26.67% increase from the same quarter last year, with net sales projected at $230.58 million, up 17.21% from the prior year [8] Valuation Metrics - MakeMyTrip is currently trading with a Forward P/E ratio of 52.08, which is a premium compared to the industry's average Forward P/E of 21.73 [4] - The company has a PEG ratio of 4.5, while the Internet - Delivery Services industry has an average PEG ratio of 2.5 [11] Industry Context - The Internet - Delivery Services industry is part of the Computer and Technology sector and holds a Zacks Industry Rank of 28, placing it in the top 12% of over 250 industries [5] - The strength of individual industry groups is measured by the Zacks Industry Rank, which indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [12] Analyst Insights - Positive revisions in analyst estimates for MakeMyTrip indicate optimism regarding the company's business and profitability [9] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), shows that MakeMyTrip currently holds a Zacks Rank of 1 (Strong Buy) [10]

Analysts and investors alike will be keeping a close eye on the performance of MakeMyTrip in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.38, signifying a 26.67% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $230.58 million, up 17.21% from the year-ago period. Investors should also take note of any recent adjustments to analyst estimates for MakeMyTrip. These latest adjustments oft ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about MakeMyTrip (MMYT) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. MakeMyTrip currently has an average brokerage recommendatio ...

The 20-day simple moving average is a popular investing tool. Traders like this SMA because it offers a look back at a stock's price over a shorter period and helps smooth out price fluctuations. The 20-day can also show more trend reversal signals than longer-term moving averages. Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend. MakeMyTrip (MMYT) is looking like an interesting pick f ...