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

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

A number of other research analysts have also recently issued reports on MMYT. Bank of America lifted their price objective on shares of MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citigroup upped their price objective on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

MakeMyTrip Stock Performance

Shares of NASDAQ:MMYT opened at $99.54 on Monday. 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 $10.93 billion, a PE ratio of 54.39, a PEG ratio of 5.89 and a beta of 1.27. The company’s 50 day moving average price is $99.74 and its two-hundred day moving average price is $88.94. MakeMyTrip has a 12-month low of $39.20 and a 12-month high of $110.49.

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

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently added to or reduced their stakes in the business. Park Place Capital Corp acquired a new position in shares of MakeMyTrip during the third quarter worth $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of MakeMyTrip by 163.5% in the first quarter. EverSource Wealth Advisors LLC now owns 535 shares of the technology company’s stock worth $35,000 after acquiring an additional 332 shares during the period. Fifth Third Bancorp bought a new stake in MakeMyTrip in the second quarter valued at approximately $59,000. nVerses Capital LLC acquired a new stake in MakeMyTrip during the 2nd quarter valued at approximately $143,000. Finally, LRI Investments LLC bought a new position in MakeMyTrip during the 1st quarter worth approximately $149,000. 51.89% of the stock is currently owned by institutional investors and hedge funds.

About MakeMyTrip

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.