August 11, 2021 F5fF930-6 Zacks Small-Cap Research Tim Moore, CFA 312-265-9237 Sponsored – Impartial - Comprehensive
[email protected] Sponsored – Impartial - Comprehensive scr.zacks.com 10 S. Riverside Plaza, Chicago, IL 60606 Yatra Online, Inc. (YTRA-NASDAQ) YTRA: Initiating Coverage – Market Share & OUTLOOK Platform Advantages to Accelerate Topline Growth as Pre-Pandemic Behavior Returns We are initiating coverage of Yatra Online (YTRA) with a $4.25 price target valuation. 2 Yatra Online, Inc. is the parent company of India’s leading independent Corporate Travel provider. It is Based on 10% discount to the industry average of also a top Leisure travelers OTA (Online Travel 3.2x EV/Sales 2022 on our Sales estimate, we Agency) in India. Their mobile applications, website believe the stock could be worth $4.25 per share. and corporate SaaS platform provide unique advantages for airfare ticketing and hotel bookings. Encouraging initial signs of recovery for travel are emerging for late 2021. We estimate positive Current Price (8/10/21) $1.92 adjusted EBITDA profitability could be reached in Valuation $4.25 calendar 2022. If so, a re-rating should occur. SUMMARY DATA 52-Week High $2.92 Risk Level Above Average 52-Week Low $0.55 Type of Stock Small-Growth One-Year Return (%) 172 Industry Internet-Services Beta 1.66 Average Daily Volume (sh) 300,399 ZACKS ESTIMATES Shares Outstanding (mil) 62 Market Capitalization ($mil) $119 Revenue (Adjusted in millions $ USD, fiscal year-end March) Short Interest Ratio (days) 1 Q1 Q2 Q3 Q4 Year Institutional Ownership (%) 57 Insider Ownership (%) 5 (Jun) (Sep) (Dec) (Mar) (Mar) 2021 3.1 A 5.1 A 8.3 A 13.3 A 29.9 A Annual Cash Dividend $0.00 2022 8.0 E 9.4 E 12.8 E 17.2 E 47.4 E Dividend Yield (%) 0.00 2023 16.1 E 18.3 E 21.7 E 26.8 E 82.9 E 2024 121.4 E 5-Yr.