On Wednesday, Goldman Sachs (NYSE:) maintained a Buy rating on MakeMyTrip (NASDAQ:MMYT), with a steady price target of $112.00. The firm highlighted MakeMyTrip’s impressive second-quarter results for the fiscal year 2025, which saw a 23% year-over-year increase in revenue, slightly surpassing Goldman Sachs’ projections. The company’s quarterly margins remained consistent despite the typically less favorable season for travel.
MakeMyTrip’s recent financial disclosures reveal that travel demand has not shown significant signs of a downturn. Particularly, international travel for the company has continued to surge, recording over 40% growth year-over-year. Goldman Sachs anticipates a multi-year growth potential in this segment. The domestic air segment of MakeMyTrip also outperformed the industry’s volume growth, suggesting resilience to competitive shifts, including direct bookings through airlines.
Goldman Sachs’ forecasts for MakeMyTrip remain largely unchanged, with expectations…