Citi opens '90-day positive Catalyst Watch' on MakeMyTrip » 05:0107/0507/05/22
Citi analyst Vijit Jain…
Citi analyst Vijit Jain opened a "90-day positive Catalyst Watch" on shares of MakeMyTrip and keeps a Buy rating on the shares. Domestic travel in the summer travel season has been strong and international has picked up at a substantial pace, Jain tells investors in a research note. The analyst says MakeMyTrip is emerging from the pandemic with a better cost structure and that its competitive environment is favorable. Jain believes greater than 10% adjusted EBIT margins are sustainable and views the stock's current valuation as "inexpensive."
|Over a week ago|
MakeMyTrip upgraded to Buy from Sell at UBS (earlier) » 13:1806/1306/13/22
UBS analyst Aditya…
UBS analyst Aditya Chandrasekar earlier today double upgraded MakeMyTrip to Buy from Sell with a price target of $37, up from $23. The analyst believes the company's book volumes and net revenues can grow at a 25%-26% annually through fiscal 2027 as the Indian travel market recovers from the COVID "shock." In addition, competition has become rational as the COVID driven demand lull forced sector discipline, Chandrasekar told investors in a research note. The analyst believes MakeMyTrip has turned the corner on profitability and is a play on the recovering India travel market.
|Over a month ago|
MakeMyTrip price target raised to $43 from $42 at Citi » 06:3805/2605/26/22
Citi analyst Vijit Jain…
Citi analyst Vijit Jain raised the firm's price target on MakeMyTrip to $43 from $42 and keeps a Buy rating on the shares following the Q4 beat. MakeMyTrip has continued to retain market share in key travel segments and has a better cost structure with travel rapidly returning to pre-pandemic trends, Jain tells investors in a research note.
MakeMyTrip reports Q4 adjusted EPS 8c vs. 11c last year » 06:4205/2505/25/22
Reports Q4 revenue $88.6M…
Reports Q4 revenue $88.6M vs. $79.2M a year ago. Reports Gross Bookings reached $1.012B in 4Q22 versus $759.2M in 4Q21. "Our long-term cost rationalization helped us post full year Adjusted Operating Profit of $23.2 million and Q4 Adjusted Operating Profit of $12.0 million in a year where business was impacted particularly due to both the Delta and Omicron variants. Consumer sentiment remains strong especially for leisure travel and we hope to observe demand momentum for domestic travel by the first half of fiscal year 2023 and for international travel by the second half of fiscal year 2023," said Rajesh Magow, Group CEO.
|Over a quarter ago|
MakeMyTrip's fintech arm buys majority stake in India's BookMyForex » 13:3904/0504/05/22
TripMoney, MakeMyTrip's fintech arm, has acquired a majority stake in BookMyForex, which it calls "India's leading online Foreign Currency Exchange services provider," as part of its goal to become "a one-stop solution for all forex needs of the Indian traveler." The company stated: "With this investment, BookMyForex's suite of services, including currency exchange that offers real-time exchange rate, multi-currency prepaid forex cards, cross border remittances as well as other ancillary products, will be rolled out soon for the benefit of MakeMyTrip and Goibibo customers. The company will leverage the extensive network of BookMyForex's partners including select banks and reputed exchange companies to fulfil forex requirements of customers in multiple cities across India." Reference Link
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 09:5802/2402/24/22
UA, UAA, M, IRTC, TRUP, FB, FUBO, GRAB, VIPS, LEV, MMYT, KIND, CLBT, CORZ, DOUG
MakeMyTrip initiated with an Equal Weight at Morgan Stanley » 05:1302/2402/24/22
Morgan Stanley analyst…
Morgan Stanley analyst Gaurav Rateria initiated coverage of MakeMyTrip with an Equal Weight rating and $29 price target. The shares are not expensive but it not cheap either, and the company's near-term margin improvement will be gradual with normalization of costs, Rateria tells investors in a research note. The analyst says the a re-opening-led travel recovery, rising online penetration and sustained margin improvement are key drivers of MakeMyTrip.
MakeMyTrip reports Q3 adjusted EPS 12c, two est. (1c) » 07:5001/2501/25/22
Reports Q3 revenue $115M,…
Reports Q3 revenue $115M, two est. $112.35M. "We reported our best Adjusted Operating Profit quarter during the ongoing pandemic supported by pent-up travel demand following the second wave of COVID-19 cases in India, coupled with festive travel and winter holidays seasonality." said Deep Kalra, Group Executive Chairman. "While the current Omicron wave has impacted consumer sentiment for leisure travel from January 2022, we continue to observe demand for domestic essential travel".
MakeMyTrip announces strategic long-term partnership with Amazon Pay » 10:0911/0111/01/21
Amazon Pay (AMZN) and…
Amazon Pay (AMZN) and MakeMyTrip India, a fully owned subsidiary of MakeMyTrip Limited (MMYT), have announced a strategic long-term partnership to offer travel services on Amazon.in, which includes its suite of mobile apps and websites. "The partnership will help Amazon Pay create a convenient experience and provide greater value for its customers with access to MakeMyTrip's best in class travel offerings," the companies announced. Rajesh Magow, Co-founder and Group CEO of MakeMyTrip, said, "We are excited to partner with Amazon, the company that has revolutionized online purchase behaviour of people world over. There is an accelerated digital shift happening as a result of the pandemic and through this partnership, we look forward to making travel bookings extremely convenient for new adopters, thereby increasing the online penetration of travel bookings."
MakeMyTrip price target raised to $42 from $38 at Citi » 06:2410/2710/27/21
Citi analyst Vijit Jain…
Citi analyst Vijit Jain raised the firm's price target on MakeMyTrip to $42 from $38 and keeps a Buy rating on the shares. The company's Q2 results were well ahead of expectations as a travel recovery appears well underway, Jain tells investors in a research note.