Zacks Investment Research lowered shares of MakeMyTrip (NASDAQ:MMYT) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “MakeMyTrip Limited is an online travel service company which offers travel products and solutions in India and the United States. The Company’s services and products include air tickets, customized holiday packages, hotel booking, railway tickets, bus tickets, car hire and facilitating access to travel insurance. MakeMyTrip Limited is the parent company of MakeMyTrip (India) Private Limited and MakeMyTrip.com Inc. Through its primary website, www.makemytrip.com, and other technology-enhanced platforms, the Company provides access to all major domestic full-service and low-cost airlines operating in India, all major airlines operating to and from India, a wide selection of hotels in and outside India, Indian Railways and several major Indian bus operators. MakeMyTrip Limited is based in Gurgaon, India. “
A number of other brokerages have also issued reports on MMYT. ValuEngine raised shares of MakeMyTrip from a hold rating to a buy rating in a research note on Monday, October 29th. BidaskClub lowered shares of MakeMyTrip from a hold rating to a sell rating in a research note on Friday, July 27th. TheStreet lowered shares of MakeMyTrip from a c- rating to a d+ rating in a research note on Tuesday, October 9th. Jefferies Financial Group raised shares of MakeMyTrip from a hold rating to a buy rating and set a $19.80 target price for the company in a research note on Wednesday, August 15th. Finally, Bank of America decreased their target price on shares of MakeMyTrip from $40.00 to $39.50 and set a buy rating for the company in a research note on Monday, July 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $31.16.
Shares of NASDAQ:MMYT traded down $1.05 during trading on Wednesday, reaching $25.53. 496,859 shares of the company traded hands, compared to its average volume of 508,987. MakeMyTrip has a 1-year low of $20.82 and a 1-year high of $41.70.
MakeMyTrip (NASDAQ:MMYT) last issued its earnings results on Tuesday, August 14th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.20). The company had revenue of $170.09 million for the quarter, compared to analyst estimates of $164.50 million. MakeMyTrip had a negative net margin of 32.59% and a negative return on equity of 11.27%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the business earned ($0.53) EPS. Equities analysts forecast that MakeMyTrip will post -1.45 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank lifted its stake in shares of MakeMyTrip by 38.3% in the 3rd quarter. Comerica Bank now owns 47,162 shares of the technology company’s stock valued at $1,100,000 after purchasing an additional 13,066 shares during the last quarter. Boston Common Asset Management LLC acquired a new stake in shares of MakeMyTrip in the 3rd quarter valued at $569,000. Majedie Asset Management Ltd lifted its stake in shares of MakeMyTrip by 96.6% in the 3rd quarter. Majedie Asset Management Ltd now owns 17,690 shares of the technology company’s stock valued at $486,000 after purchasing an additional 8,690 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of MakeMyTrip in the 3rd quarter valued at $108,000. Finally, CWM LLC lifted its stake in shares of MakeMyTrip by 30.5% in the 3rd quarter. CWM LLC now owns 122,952 shares of the technology company’s stock valued at $3,375,000 after purchasing an additional 28,760 shares during the last quarter. 43.03% of the stock is owned by institutional investors and hedge funds.
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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