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

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

Several other equities analysts have also issued reports on the stock. Bank of America boosted 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. Citigroup raised their target price 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 Down 3.5 %

Shares of MMYT stock opened at $99.54 on Monday. MakeMyTrip has a 12-month low of $39.20 and a 12-month high of $110.49. The firm has a 50-day moving average price of $99.74 and a 200 day moving average price of $88.94. The company has a market capitalization of $10.93 billion, a P/E ratio of 54.39, a P/E/G ratio of 5.89 and a beta of 1.27. The company has a quick ratio of 2.81, a current ratio of 2.82 and a debt-to-equity ratio of 0.19.

MakeMyTrip (NASDAQ:MMYT) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. The company 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 company posted $0.18 EPS. Research analysts forecast that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of MakeMyTrip

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