MakeMyTrip (NASDAQ:MMYT) Rating Lowered to “Sell” at StockNews.com

MakeMyTrip (NASDAQ:MMYT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Several other equities analysts also recently commented on MMYT. Bank of America upped their price objective on MakeMyTrip from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Citigroup upped their price objective on MakeMyTrip from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th.

MakeMyTrip Stock Performance

NASDAQ:MMYT opened at $103.00 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.81. MakeMyTrip has a 1 year low of $41.56 and a 1 year high of $113.61. The stock’s 50 day simple moving average is $101.64 and its two-hundred day simple moving average is $91.64. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 56.28, a PEG ratio of 5.48 and a beta of 1.27.

MakeMyTrip (NASDAQ:MMYT) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $210.99 million for the quarter, compared to the consensus estimate of $214.90 million. MakeMyTrip had a return on equity of 11.54% and a net margin of 26.64%. During the same quarter in the previous year, the company posted $0.18 EPS. As a group, equities analysts anticipate that MakeMyTrip will post 1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MakeMyTrip

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in shares of MakeMyTrip by 85.7% during the 2nd quarter. Baillie Gifford & Co. now owns 4,072,452 shares of the technology company’s stock worth $342,493,000 after purchasing an additional 1,879,726 shares during the last quarter. FMR LLC lifted its stake in shares of MakeMyTrip by 51.2% during the 3rd quarter. FMR LLC now owns 3,635,473 shares of the technology company’s stock worth $337,917,000 after purchasing an additional 1,230,916 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of MakeMyTrip by 282.4% during the 3rd quarter. Jennison Associates LLC now owns 2,316,572 shares of the technology company’s stock worth $215,325,000 after purchasing an additional 1,710,773 shares during the last quarter. William Blair Investment Management LLC increased its position in MakeMyTrip by 54.5% during the 2nd quarter. William Blair Investment Management LLC now owns 1,099,062 shares of the technology company’s stock valued at $92,431,000 after buying an additional 387,695 shares in the last quarter. Finally, Marshall Wace LLP increased its position in MakeMyTrip by 129.2% during the 2nd quarter. Marshall Wace LLP now owns 956,172 shares of the technology company’s stock valued at $80,414,000 after buying an additional 539,067 shares in the last quarter. 51.89% of the stock is currently owned by hedge funds and other institutional investors.

MakeMyTrip Company Profile

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.