MakeMyTrip (NASDAQ:MMYT) Rating Lowered 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 note issued on Wednesday.

Several other analysts have also commented on the company. Bank of America raised their target price on MakeMyTrip from $112.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Citigroup raised their target price on MakeMyTrip from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th.

MakeMyTrip Stock Up 2.7 %

Shares of MMYT stock opened at $103.00 on Wednesday. The stock’s 50-day simple moving average is $101.64 and its 200-day simple moving average is $91.64. 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 firm has a market capitalization of $11.31 billion, a PE ratio of 56.28, a P/E/G ratio of 5.48 and a beta of 1.27. MakeMyTrip has a fifty-two week low of $41.56 and a fifty-two week high of $113.61.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $210.99 million for the quarter, compared to analyst estimates of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same period in the prior year, the company earned $0.18 earnings per share. Equities analysts expect that MakeMyTrip will post 1.29 earnings per share for the current year.

Hedge Funds Weigh In On MakeMyTrip

A number of hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its position in shares of MakeMyTrip by 29.3% in the first quarter. US Bancorp DE now owns 6,814 shares of the technology company’s stock valued at $484,000 after acquiring an additional 1,543 shares in the last quarter. Vanguard Group Inc. purchased a new position in shares of MakeMyTrip in the first quarter valued at approximately $2,317,000. O Shaughnessy Asset Management LLC lifted its position in shares of MakeMyTrip by 75.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,546 shares of the technology company’s stock valued at $749,000 after acquiring an additional 4,545 shares in the last quarter. LRI Investments LLC purchased a new position in shares of MakeMyTrip in the first quarter valued at approximately $149,000. Finally, Totem Point Management LLC purchased a new position in shares of MakeMyTrip in the first quarter valued at approximately $2,694,000. 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.