In a report released today, Jed Kelly from Oppenheimer downgraded Yatra Online Inc (YTRA) to Hold. The company’s shares closed on Friday at $4.92.
Kelly commented:
“We are downgrading YTRA to Perform and removing our $8.00 price target. We applaud management’s greater focus on profitability, but lower our F20E INR net revenue growth by 4% to +15% y/y, vs. F3Q:19’s 14%, with limited visibility into potential acceleration. In addition, we are forecasting F20 marketing leverage of +370bps y/y, which we believe is underwhelming for an emerging market company growing revenue in the mid-teens, while also limiting the narrative that the corporate segment is a differentiator to MMYT. Next catalyst is F4Q:19 report (late May/early June), so shares are likely range-bound based on decelerating revenue trends. We would get more constructive if mgmt 1) breaks out the corporate segments to exhibit greater SOTP value or 2) forms a strategic partnership with its OTA segment to generate better marketing leverage.”
According to TipRanks.com, Kelly is ranked #1267 out of 5142 analysts.
The the analyst consensus on Yatra Online Inc is currently a Hold rating.
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The company has a one-year high of $8.19 and a one-year low of $3.70. Currently, Yatra Online Inc has an average volume of 157.8K.
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Yatra Online, Inc. engages in the business of selling travel products and solutions. It operates through the following segments: Air Ticketing; Hotels and Packages; and Others. The Air Ticketing segment earn commissions from airlines for tickets booked by customers.
