MakeMyTrip (NASDAQ:MMYT) Stock Price Down 6.9% – What’s Next?

MakeMyTrip Limited (NASDAQ:MMYT)’s share price was down 6.9% on Tuesday . The company traded as low as $99.63 and last traded at $99.40. Approximately 213,546 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 519,642 shares. The stock had previously closed at $106.80.

Analysts Set New Price Targets

Several brokerages recently weighed in on MMYT. StockNews.com downgraded MakeMyTrip from a “hold” rating to a “sell” rating in a research note on Wednesday, November 20th. Bank of America raised their price target on shares of MakeMyTrip from $119.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, December 27th.

MakeMyTrip Price Performance

The stock’s 50 day moving average is $111.56 and its two-hundred day moving average is $102.16. 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 stock has a market capitalization of $12.01 billion, a PE ratio of 59.80, a price-to-earnings-growth ratio of 5.36 and a beta of 1.29.

MakeMyTrip (NASDAQ:MMYT) last posted its quarterly earnings results on Thursday, January 23rd. The technology company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.12). MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. On average, equities analysts anticipate that MakeMyTrip Limited will post 1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in MakeMyTrip by 51.2% in the third quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock valued at $337,917,000 after purchasing an additional 1,230,916 shares during the period. Jennison Associates LLC raised its position in MakeMyTrip by 282.4% in the third quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock valued at $215,325,000 after purchasing an additional 1,710,773 shares during the period. Marshall Wace LLP boosted its position in shares of MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock worth $80,414,000 after buying an additional 539,067 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of MakeMyTrip by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 632,062 shares of the technology company’s stock valued at $58,750,000 after buying an additional 107,814 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of MakeMyTrip by 1.3% in the 3rd quarter. Janus Henderson Group PLC now owns 508,607 shares of the technology company’s stock valued at $47,258,000 after buying an additional 6,378 shares during the period. Hedge funds and other institutional investors 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.