MakeMyTrip (NASDAQ:MMYT) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a sell rating to a hold rating in a report issued on Tuesday morning.

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

MakeMyTrip Trading Down 2.5 %

NASDAQ:MMYT opened at $104.20 on Tuesday. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 56.94, a PEG ratio of 6.01 and a beta of 1.27. MakeMyTrip has a 52 week low of $41.11 and a 52 week high of $113.61. 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 50 day moving average of $100.74 and a 200 day moving average of $90.44.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data 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 return on equity of 11.54% and a net margin of 26.64%. The firm had revenue of $210.99 million during the quarter, compared to analyst estimates of $214.90 million. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, sell-side analysts anticipate that MakeMyTrip will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently modified their holdings of MMYT. Harbour Capital Advisors LLC boosted its holdings in shares of MakeMyTrip by 0.9% in the 3rd quarter. Harbour Capital Advisors LLC now owns 20,280 shares of the technology company’s stock valued at $2,008,000 after acquiring an additional 175 shares during the last quarter. Thornburg Investment Management Inc. grew its position in MakeMyTrip by 0.8% during the 2nd quarter. Thornburg Investment Management Inc. now owns 24,580 shares of the technology company’s stock worth $2,100,000 after purchasing an additional 204 shares during the period. Caprock Group LLC raised its stake in shares of MakeMyTrip by 6.4% during the 3rd quarter. Caprock Group LLC now owns 3,726 shares of the technology company’s stock valued at $346,000 after buying an additional 224 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of MakeMyTrip by 100.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 448 shares of the technology company’s stock valued at $42,000 after buying an additional 225 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in MakeMyTrip by 44.1% during the second quarter. EverSource Wealth Advisors LLC now owns 771 shares of the technology company’s stock worth $65,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.

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.