MakeMyTrip (NASDAQ:MMYT) Rating Lowered to Sell at StockNews.com

MakeMyTrip (NASDAQ:MMYT) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

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

MakeMyTrip Stock Down 3.5 %

Shares of NASDAQ:MMYT traded down $3.65 during mid-day trading on Monday, hitting $99.54. 473,211 shares of the company traded hands, compared to its average volume of 731,360. The firm’s 50 day simple moving average is $99.74 and its 200 day simple moving average is $88.94. MakeMyTrip has a 52-week low of $39.20 and a 52-week high of $110.49. 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 market cap of $10.93 billion, a P/E ratio of 54.39, a PEG ratio of 5.79 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.36 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $214.90 million. During the same period in the previous year, the business posted $0.18 EPS. On average, equities analysts anticipate that MakeMyTrip will post 1.27 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently bought and sold shares of MMYT. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of MakeMyTrip in the first quarter worth about $6,470,000. Flossbach Von Storch AG bought a new stake in MakeMyTrip during the 1st quarter worth $1,776,000. Oppenheimer & Co. Inc. bought a new stake in shares of MakeMyTrip during the first quarter worth about $283,000. Capital Wealth Planning LLC acquired a new position in shares of MakeMyTrip in the first quarter valued at approximately $2,274,000. Finally, Russell Investments Group Ltd. raised its holdings in MakeMyTrip by 117.5% in the 1st quarter. Russell Investments Group Ltd. now owns 234,203 shares of the technology company’s stock valued at $16,640,000 after buying an additional 126,505 shares during the last quarter. 51.89% of the stock is currently owned by institutional investors and hedge funds.

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.