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

MakeMyTrip (NASDAQ:MMYT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

MMYT has been the subject of a number of other reports. Citigroup boosted their price target on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Bank of America lifted their price target on shares of MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th.

MakeMyTrip Stock Up 2.7 %

NASDAQ:MMYT opened at $102.26 on Monday. The firm has a 50-day simple moving average of $99.82 and a two-hundred day simple moving average of $89.24. The firm has a market cap of $11.23 billion, a P/E ratio of 55.88, a P/E/G ratio of 5.89 and a beta of 1.27. MakeMyTrip has a fifty-two week low of $39.20 and a fifty-two week high of $110.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.81 and a current ratio of 2.82.

MakeMyTrip (NASDAQ:MMYT) last issued its earnings results 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 business had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. During the same period last year, the business posted $0.18 EPS. Analysts predict that MakeMyTrip will post 1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. raised its stake in MakeMyTrip by 85.7% during the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock valued at $342,493,000 after purchasing an additional 1,879,726 shares during the period. William Blair Investment Management LLC bought a new position in shares of MakeMyTrip during the first quarter worth $50,543,000. Marshall Wace LLP grew its stake in MakeMyTrip by 129.2% during the second quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after acquiring an additional 539,067 shares in the last quarter. Janus Henderson Group PLC increased its holdings in MakeMyTrip by 143.2% in the 1st quarter. Janus Henderson Group PLC now owns 458,534 shares of the technology company’s stock valued at $32,574,000 after acquiring an additional 269,988 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in MakeMyTrip by 39.7% in the 2nd quarter. Sei Investments Co. now owns 458,962 shares of the technology company’s stock worth $38,599,000 after purchasing an additional 130,424 shares in the last quarter. 51.89% of the stock is owned by 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.