MakeMyTrip (NASDAQ:MMYT) Shares Down 3.7% – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT)’s stock price traded down 3.7% on Tuesday . The company traded as low as $113.31 and last traded at $113.57. 36,222 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 315,375 shares. The stock had previously closed at $117.99.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MMYT shares. Bank of America raised their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the company a “buy” rating in a report on Friday, December 27th. StockNews.com downgraded shares of MakeMyTrip from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th.

MakeMyTrip Stock Performance

The business’s fifty day moving average is $111.09 and its 200-day moving average is $100.47. 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 company has a market cap of $12.52 billion, a PE ratio of 62.33, a P/E/G ratio of 6.59 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last issued its quarterly earnings data 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. The firm had revenue of $210.99 million during the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a net margin of 26.64% and a return on equity of 11.54%. During the same quarter in the previous year, the firm posted $0.18 EPS. As a group, research analysts predict that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. bought a new stake in MakeMyTrip during the 3rd quarter worth approximately $1,134,000. Tidal Investments LLC raised its position in shares of MakeMyTrip by 5.9% during the 3rd quarter. Tidal Investments LLC now owns 39,981 shares of the technology company’s stock valued at $3,716,000 after purchasing an additional 2,221 shares during the period. Virtu Financial LLC lifted its stake in shares of MakeMyTrip by 338.3% during the 3rd quarter. Virtu Financial LLC now owns 11,593 shares of the technology company’s stock valued at $1,078,000 after buying an additional 8,948 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MakeMyTrip by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 273,230 shares of the technology company’s stock worth $25,397,000 after buying an additional 19,471 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in MakeMyTrip in the 3rd quarter worth $858,000. 51.89% of the stock is owned by hedge funds and other institutional investors.

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.