MakeMyTrip (NASDAQ:MMYT) Downgraded to “Hold” at ValuEngine

ValuEngine downgraded shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to a hold rating in a research note published on Thursday, ValuEngine reports.

Other equities research analysts have also issued reports about the stock. Bank of America set a $24.00 price target on shares of MakeMyTrip and gave the company a sell rating in a report on Monday, May 20th. Zacks Investment Research upgraded shares of MakeMyTrip from a sell rating to a hold rating in a report on Wednesday, August 14th. Finally, BidaskClub lowered shares of MakeMyTrip from a hold rating to a sell rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $29.75.

Shares of MakeMyTrip stock opened at $21.43 on Thursday. MakeMyTrip has a 52-week low of $19.66 and a 52-week high of $32.30. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -13.31 and a beta of 0.35. The company has a fifty day moving average of $25.80 and a 200-day moving average of $26.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.84 and a current ratio of 1.84.

MakeMyTrip (NASDAQ:MMYT) last announced its quarterly earnings data on Tuesday, July 30th. The technology company reported ($0.41) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.21). MakeMyTrip had a negative net margin of 32.49% and a negative return on equity of 11.74%. The business had revenue of $198.50 million during the quarter, compared to analysts’ expectations of $183.94 million. During the same period last year, the company posted ($0.37) EPS. MakeMyTrip’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that MakeMyTrip will post -1.12 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Baillie Gifford & Co. raised its holdings in MakeMyTrip by 1.2% during the 1st quarter. Baillie Gifford & Co. now owns 3,260,419 shares of the technology company’s stock valued at $89,988,000 after buying an additional 37,600 shares during the last quarter. Brown Advisory Inc. raised its holdings in MakeMyTrip by 18.7% during the 2nd quarter. Brown Advisory Inc. now owns 2,607,430 shares of the technology company’s stock valued at $64,664,000 after buying an additional 411,306 shares during the last quarter. FIL Ltd raised its holdings in MakeMyTrip by 98.9% during the 1st quarter. FIL Ltd now owns 2,599,783 shares of the technology company’s stock valued at $71,754,000 after buying an additional 1,292,622 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in MakeMyTrip by 7.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 2,244,401 shares of the technology company’s stock worth $55,661,000 after purchasing an additional 157,753 shares in the last quarter. Finally, GMT Capital Corp raised its holdings in MakeMyTrip by 49.5% in the 1st quarter. GMT Capital Corp now owns 907,376 shares of the technology company’s stock worth $25,044,000 after purchasing an additional 300,453 shares in the last quarter. Institutional investors own 43.09% of the company’s stock.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, engages in the business of selling travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, China, Colombia, and Peru. It operates through two segments, Air Ticketing, and Hotels and Packages. The company's services and products include air tickets, hotels, packages, rail tickets, bus tickets, and car hire, as well as ancillary travel requirements, such as facilitating access to travel insurance and visa processing.

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