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

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

Other analysts have also issued research reports about the company. Bank of America increased their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup raised their price target 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 Price Performance

MakeMyTrip stock opened at $108.73 on Wednesday. MakeMyTrip has a 12-month low of $41.56 and a 12-month high of $113.61. The company has a current ratio of 2.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $102.13 and a 200-day moving average price of $92.08. The firm has a market capitalization 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 announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $214.90 million. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities research analysts forecast that MakeMyTrip will post 1.29 EPS for the current year.

Institutional Investors Weigh In On MakeMyTrip

Several hedge funds have recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in shares of MakeMyTrip in the first quarter valued at about $3,891,000. GSA Capital Partners LLP purchased a new stake in shares of MakeMyTrip in the 3rd quarter worth approximately $674,000. Vanguard Group Inc. bought a new position in shares of MakeMyTrip during the first quarter valued at approximately $2,317,000. 1832 Asset Management L.P. purchased a new position in MakeMyTrip during the second quarter valued at approximately $879,000. Finally, U S Global Investors Inc. raised its stake in MakeMyTrip by 7.2% in the third quarter. U S Global Investors Inc. now owns 105,335 shares of the technology company’s stock worth $9,791,000 after buying an additional 7,114 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

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.