Citi has adjusted its price target for MakeMyTrip (MMYT, Financial), decreasing it from $125 to $120 while maintaining a Buy rating after the company's second-quarter results. The adjustment reflects a mix of outcomes, with a decline in demand within MakeMyTrip's domestic air and package segments. However, this drop is balanced by robust performance in its international markets and new transportation ventures.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for MakeMyTrip Ltd (MMYT, Financial) is $119.79 with a high estimate of $130.00 and a low estimate of $110.00. The average target implies an upside of 19.31% from the current price of $100.40. More detailed estimate data can be found on the MakeMyTrip Ltd (MMYT) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, MakeMyTrip Ltd's (MMYT, Financial) average brokerage recommendation is currently 1.7, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MakeMyTrip Ltd (MMYT, Financial) in one year is $102.57, suggesting a upside of 2.16% from the current price of $100.4. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MakeMyTrip Ltd (MMYT) Summary page.
MMYT Key Business Developments
Release Date: July 22, 2025
- Revenue: $268.8 million, a 7.8% year-on-year growth in constant currency.
- Adjusted Operating Profit: $47.3 million, a 21% year-on-year increase.
- Net Profit: $25.8 million, a 22.6% year-on-year growth.
- International Air Ticketing Revenue Growth: Over 27% year-on-year.
- International Hotels Revenue Growth: Over 45% year-on-year.
- Hotels and Packages Gross Booking Value Growth: 15.3% year-on-year in constant currency.
- Bus Ticketing Adjusted Margin: $42.6 million, a 34.1% year-on-year growth in constant currency.
- Ground Transport Gross Bookings: $71.8 million, a 31.6% year-on-year growth in constant currency.
- Cash and Cash Equivalents: $804 million at the end of the quarter.
- Share Repurchase: Completion of repurchase and cancellation of 34.3 million Class B shares.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- MakeMyTrip Ltd (MMYT, Financial) reported strong top-line growth in Hotels and Packages, Bus, and ancillary business segments despite macroeconomic challenges.
- The company achieved a 21% year-on-year growth in adjusted operating profit, reaching $47.3 million.
- International Air Ticketing revenue grew by over 27% year on year, and international Hotels revenue increased by over 45% year on year.
- MakeMyTrip Ltd (MMYT) expanded its international hotel supply, adding over 2,000 directly contracted hotels across 50 cities in 20 countries.
- The company successfully raised additional capital of approximately $3.1 billion through a primary offering, enhancing its financial position.
Negative Points
- Domestic leisure travel demand was negatively impacted by geopolitical tensions and a tragic airplane crash, affecting overall growth.
- The holiday Packages business was largely flat year on year due to the impact on domestic leisure travel.
- The company faced operational disruptions in the domestic Air Ticketing market, affecting growth in this segment.
- Despite strong growth in international segments, the overall revenue growth was limited to 7.8% year on year due to external events.
- The company experienced a temporary disruption in air supply due to safety checks, impacting flight availability.
