MakeMyTrip Ltd's shares fell 4.36% as the company hit a 52-week low.
Citi has cut MakeMyTrip's price target from $108 to $96 while maintaining a 'Buy' rating, indicating confidence in the company's future growth despite a cautious outlook on current performance. The company reported quarterly revenue of $295.7 million, falling short of analyst expectations of $310 million, suggesting weak market demand that could impact future investor confidence. Despite the revenue miss, MakeMyTrip reported earnings per share of $0.07, exceeding the expected $0.01, indicating some success in cost control that may lay the groundwork for future profit growth.
The decline in stock price reflects investor concerns about MakeMyTrip's long-term prospects, especially after a cumulative decline of over 34% in the past year. The market's reaction to the price target cut highlights the challenges the company faces in regaining investor confidence.
Wall Street analysts forecast MMYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MMYT is 118.00 USD with a low forecast of 113.00 USD and a high forecast of 123.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
Wall Street analysts forecast MMYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MMYT is 118.00 USD with a low forecast of 113.00 USD and a high forecast of 123.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 62.060
Low
113.00
Averages
118.00
High
123.00
Current: 62.060
Low
113.00
Averages
118.00
High
123.00
Citi
Buy
downgrade
$108 -> $96
2026-01-21
Reason
Citi
Price Target
$108 -> $96
AI Analysis
2026-01-21
downgrade
Buy
Reason
Citi lowered the firm's price target on MakeMyTrip to $96 from $108 and keeps a Buy rating on the shares following the Q3 report. The firm views the company's growth as solid amid "challenging circumstances." It reduced estimates post the earnings print on more modest margin assumptions. The analyst views MakeMyTrip's valuation as attractive at current share levels.
Morgan Stanley
NULL -> Overweight
maintain
$113 -> $106
2026-01-21
Reason
Morgan Stanley
Price Target
$113 -> $106
2026-01-21
maintain
NULL -> Overweight
Reason
Morgan Stanley lowered the firm's price target on MakeMyTrip to $106 from $113 and keeps an Overweight rating on the shares. Following the company's Q3 report, the firm is lower its estimates to moderate the expected pace of margin expansion for FY27 and FY28, the analyst tells investors.
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BofA
Sachin Salgaonkar
Buy
downgrade
$115 -> $113
2025-12-24
Reason
BofA
Sachin Salgaonkar
Price Target
$115 -> $113
2025-12-24
downgrade
Buy
Reason
BofA analyst Sachin Salgaonkar lowered the firm's price target on MakeMyTrip to $113 from $115 and keeps a Buy rating on the shares. For Q3, the firm forecasts MakeMyTrip to report a "soft" 16% year-over-year growth rate on a reported currency basis given the negative impact from IndiGo's flight disruptions, though the firm's industry channel checks indicate that the company is doing better than OTA peers and was relatively less impacted, the analyst tells investors in a preview.
CICC
Outperform
initiated
$95
2025-11-14
Reason
CICC
Price Target
$95
2025-11-14
initiated
Outperform
Reason
CICC initiated coverage of MakeMyTrip with an Outperform rating and $95 price target.
About MMYT
MakeMyTrip Limited is an online travel provider. The Company's segments include Air Ticketing, Hotels and Packages, and Bus Ticketing. The Air ticketing segment provides the facility to book domestic and international air tickets through Internet-based platforms. The Hotels and packages segment provides holiday packages and hotel reservations through Internet-based platforms, call centers, and franchise stores. The Bus ticketing segment provides the facility to book domestic and international bus tickets through Internet-based platforms. Through its primary websites, such as www.makemytrip.com, www.goibibo.com, and www.redbus.in, and mobile platforms, travelers can research, plan and book a range of travel services and products in India, as well as overseas. The Company's services and products include air ticketing, hotels and packages, bus tickets, rail tickets, car hire, activities and experiences, and ancillary travel requirements. It also provides an inter-city car rental service.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
