MakeMyTrip (NASDAQ:MMYT) Upgraded to “Sell” at BidaskClub

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BidaskClub upgraded shares of MakeMyTrip (NASDAQ:MMYT) from a strong sell rating to a sell rating in a report published on Saturday, BidAskClub reports.

Other equities research analysts also recently issued reports about the stock. Bank of America set a $24.00 price objective on shares of MakeMyTrip and gave the stock a sell rating in a research note on Monday, May 20th. Zacks Investment Research cut shares of MakeMyTrip from a hold rating to a sell rating in a research report on Thursday, September 5th. Finally, ValuEngine downgraded shares of MakeMyTrip from a buy rating to a hold rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $29.75.

Shares of NASDAQ MMYT opened at $24.01 on Friday. The business has a fifty day moving average price of $23.79 and a two-hundred day moving average price of $25.73. The stock has a market capitalization of $2.47 billion, a PE ratio of -14.91 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.84 and a quick ratio of 1.84. MakeMyTrip has a fifty-two week low of $19.66 and a fifty-two week high of $32.30.

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

Several institutional investors and hedge funds have recently modified their holdings of MMYT. Vanguard Group Inc. lifted its stake in MakeMyTrip by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 15,391 shares of the technology company’s stock valued at $382,000 after purchasing an additional 497 shares during the last quarter. Bellecapital International Ltd. lifted its stake in shares of MakeMyTrip by 4.6% in the 2nd quarter. Bellecapital International Ltd. now owns 11,866 shares of the technology company’s stock valued at $294,000 after acquiring an additional 522 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of MakeMyTrip by 309.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,015 shares of the technology company’s stock valued at $25,000 after acquiring an additional 767 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of MakeMyTrip by 3.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 105,768 shares of the technology company’s stock valued at $2,919,000 after acquiring an additional 3,321 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of MakeMyTrip by 2.3% during the 2nd quarter. First Trust Advisors LP now owns 188,398 shares of the technology company’s stock valued at $4,672,000 after acquiring an additional 4,226 shares in the last quarter. Institutional investors own 43.55% of the company’s stock.

MakeMyTrip Company Profile

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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