MakeMyTrip (NASDAQ:MMYT) Downgraded to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a research note published on Monday morning.

Several other equities research analysts have also weighed in on MMYT. Bank of America upped their target price on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Citigroup increased their price objective on shares of MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

MakeMyTrip Trading Up 10.9 %

Shares of MMYT stock opened at $113.45 on Monday. MakeMyTrip has a 52-week low of $39.20 and a 52-week high of $113.61. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 61.99, a P/E/G ratio of 5.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82. The firm has a fifty day moving average of $100.17 and a 200-day moving average of $89.40.

MakeMyTrip (NASDAQ:MMYT) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The business had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, equities research analysts forecast that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in shares of MakeMyTrip by 85.7% in the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after purchasing an additional 1,879,726 shares during the last quarter. William Blair Investment Management LLC boosted its stake in shares of MakeMyTrip by 54.5% in the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after purchasing an additional 387,695 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of MakeMyTrip by 129.2% in the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after purchasing an additional 539,067 shares during the last quarter. Sei Investments Co. boosted its stake in shares of MakeMyTrip by 39.7% in the 2nd quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock valued at $38,599,000 after purchasing an additional 130,424 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of MakeMyTrip by 143.2% in the 1st quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock valued at $32,574,000 after purchasing an additional 269,988 shares during the last quarter. Institutional investors own 51.89% of the company’s stock.

MakeMyTrip Company Profile

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.