MakeMyTrip Limited (MMYT) Lowered to D at TheStreet

TheStreet lowered shares of MakeMyTrip Limited (NASDAQ:MMYT) from a c- rating to a d rating in a research report sent to investors on Tuesday.

A number of other equities research analysts have also weighed in on MMYT. Jefferies Group LLC lowered MakeMyTrip Limited from a buy rating to a hold rating and boosted their target price for the company from $19.80 to $32.00 in a research note on Thursday, August 10th. Zacks Investment Research lowered MakeMyTrip Limited from a buy rating to a hold rating in a research note on Tuesday, November 7th. ValuEngine lowered MakeMyTrip Limited from a hold rating to a sell rating in a research note on Wednesday, October 18th. Finally, UBS AG lowered MakeMyTrip Limited from a buy rating to a sell rating and set a $30.00 target price for the company. in a research note on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $30.10.

MakeMyTrip Limited (NASDAQ:MMYT) traded down $0.75 during midday trading on Tuesday, hitting $25.10. The stock had a trading volume of 258,100 shares, compared to its average volume of 512,814. MakeMyTrip Limited has a 12 month low of $22.05 and a 12 month high of $40.90.

MakeMyTrip Limited (NASDAQ:MMYT) last released its earnings results on Wednesday, November 1st. The technology company reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.27. MakeMyTrip Limited had a negative return on equity of 12.74% and a negative net margin of 31.73%. The company had revenue of $139.20 million during the quarter, compared to analyst estimates of $110.72 million. During the same quarter in the previous year, the company posted ($0.61) EPS. MakeMyTrip Limited’s revenue for the quarter was up 161.7% on a year-over-year basis. analysts expect that MakeMyTrip Limited will post -2.22 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. increased its holdings in MakeMyTrip Limited by 12.7% during the 2nd quarter. D.A. Davidson & CO. now owns 3,553 shares of the technology company’s stock valued at $119,000 after purchasing an additional 399 shares during the period. Deltec Asset Management LLC increased its holdings in MakeMyTrip Limited by 8.0% during the 3rd quarter. Deltec Asset Management LLC now owns 27,000 shares of the technology company’s stock valued at $776,000 after purchasing an additional 2,000 shares during the period. Sei Investments Co. increased its holdings in MakeMyTrip Limited by 3.8% during the 2nd quarter. Sei Investments Co. now owns 102,321 shares of the technology company’s stock valued at $3,433,000 after purchasing an additional 3,746 shares during the period. Envestnet Asset Management Inc. purchased a new position in MakeMyTrip Limited during the 3rd quarter valued at about $135,000. Finally, Jennison Associates LLC increased its holdings in MakeMyTrip Limited by 8.7% during the 2nd quarter. Jennison Associates LLC now owns 61,477 shares of the technology company’s stock valued at $2,063,000 after purchasing an additional 4,897 shares during the period. Institutional investors own 43.05% of the company’s stock.

About MakeMyTrip Limited

MakeMyTrip Limited is an online travel company in India. The Company’s services and products include air ticketing, hotels, packages, rail tickets, bus tickets, car hire and ancillary travel requirements, such as facilitating access to third-party travel insurance and visa processing. Its segments include Air ticketing, which provides the facility to book international and domestic air tickets through an Internet-based platform; Hotels and packages, which provides holiday packages and hotel reservations through an Internet-based platform, call-centers and branch offices, and Others, which include advertisement income from hosting advertisements on its Internet Web-sites, income from sale of rail and bus tickets and income from facilitating Website access to a travel insurance company.

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