MakeMyTrip Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

It's been a good week for MakeMyTrip Limited (NASDAQ:MMYT) shareholders, because the company has just released its latest quarterly results, and the shares gained 6.4% to US$102. It looks like a pretty bad result, all things considered. Although revenues of US$283m were in line with analyst predictions, statutory earnings fell badly short, missing estimates by 26% to hit US$0.22 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

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Taking into account the latest results, the consensus forecast from MakeMyTrip's nine analysts is for revenues of US$1.19b in 2026. This reflects a solid 19% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to leap 28% to US$1.35. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$1.19b and earnings per share (EPS) of US$1.33 in 2026. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

View our latest analysis for MakeMyTrip

There were no changes to revenue or earnings estimates or the price target of US$120, suggesting that the company has met expectations in its recent result. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. Currently, the most bullish analyst values MakeMyTrip at US$130 per share, while the most bearish prices it at US$112. With such a narrow range of valuations, the analysts apparently share similar views on what they think the business is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The period to the end of 2026 brings more of the same, according to the analysts, with revenue forecast to display 27% growth on an annualised basis. That is in line with its 32% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 9.7% per year. So it's pretty clear that MakeMyTrip is forecast to grow substantially faster than its industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at US$120, with the latest estimates not enough to have an impact on their price targets.

With that in mind, we wouldn't be too quick to come to a conclusion on MakeMyTrip. Long-term earnings power is much more important than next year's profits. We have forecasts for MakeMyTrip going out to 2028, and you can see them free on our platform here.

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for MakeMyTrip (1 is a bit concerning) you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.