MakeMyTrip (NASDAQ:MMYT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of MakeMyTrip (NASDAQ:MMYT) from a hold rating to a sell rating in a report published on Wednesday morning.

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

MakeMyTrip Trading Down 0.9 %

NASDAQ MMYT opened at $108.73 on Wednesday. MakeMyTrip has a 52 week low of $41.56 and a 52 week high of $113.61. The company has a 50 day moving average price of $102.13 and a 200 day moving average price of $92.08. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19. The firm has a market cap of $11.94 billion, a PE ratio of 59.51, a price-to-earnings-growth ratio of 5.79 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. The business had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, sell-side analysts forecast that MakeMyTrip will post 1.29 EPS for the current fiscal year.

Institutional Trading of MakeMyTrip

Several large investors have recently added to or reduced their stakes in MMYT. Virtu Financial LLC lifted its holdings in shares of MakeMyTrip by 338.3% during the third quarter. Virtu Financial LLC now owns 11,593 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 8,948 shares during the period. Geode Capital Management LLC raised its position in MakeMyTrip by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company’s stock worth $25,397,000 after buying an additional 19,471 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in MakeMyTrip during the 3rd quarter valued at approximately $858,000. XTX Topco Ltd purchased a new stake in shares of MakeMyTrip in the 3rd quarter valued at $818,000. Finally, State Street Corp increased its stake in shares of MakeMyTrip by 5.8% in the third quarter. State Street Corp now owns 106,537 shares of the technology company’s stock worth $9,903,000 after acquiring an additional 5,814 shares during the period. Hedge funds and other 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.